Bibicoff, Bibicoff + MacInnis, Inc.
To Go Reports Preliminary Fourth Quarter Financial Results
Quarterly Revenues Increase 60 Percent - All Key Metrics Improved
Wash. - JAN. 16, 2008 - Organic To Go (OTCBB: OTGO) today reported preliminary
unaudited financial results for the fourth quarter ended December 31,
for the quarter increased 60 percent to approximately $4.7 million, as compared
with revenues of $2.9 million in the same quarter last year. Gross profit
for the quarter increased approximately 90 percent to $2.7 million, as compared
with $1.4 million in the same period last year, in part by increasing blended
gross profit margin by more than 10 percent to 58 percent for the quarter.
expected, EBITDA for the quarter is projected at approximately $(1 million)
compared with $(2.4 million) in the same period last year. The company also
showed material improvements in operational costs company wide during the fourth
for the year increased 65 percent to approximately $15.9 million, as compared
with revenues of $9.7 million in the prior year, with gross profit for the
up an estimated 78 percent to approximately $8.5 million, as compared with
million in the same period last year.
the fourth quarter, Organic to Go reported retail sales of approximately $2.1
million, delivery sales grew to approximately $1.9 million and wholesale sales
were approximately $716,000, increases of 71 percent, 47 percent and 65 percent
respectively, over the same period last year.
year, the Company reported retail sales grew to approximately $7.1 million,
delivery sales grew to approximately $6.6 million and wholesale sales were
approximately $2.2 million, increases of 36 percent, 97 percent and 99 percent
respectively over the same period last year.
Brown, Chairman and CEO, said that, “I am very pleased to report that as
anticipated, our Company has made important improvements in all key metrics
is beginning to realize economies of scale in operations. The combination of
increased revenue, decreased cost of goods and operating costs delivered the
positive results which we had forecast. I
that we can continue to improve on these results and I am confident that our
Company will be EBITDA positive in 2008.”
the quarter, daily revenue exceeded $82,000 per business day, the average retail
check increased to over $6.40 with the average catering order company wide
the year averaging over $250 per order.
been an important year of accomplishments for Organic to Go,” Brown continued.
“Our delicious organic food is now available in over 160 locations - including
26 cafés, over 120 wholesale locations, 14 universities and 9 locations at Los
Angeles International Airport. We started the year with 12 cafés and closed a
year of growth and expansion with 26 cafés, and we now operate in three
geographic regions. I am confident that our plans for 2008 to grow existing
operations and expand our brand are solid and achievable. Our goal is to
continue to grow top line revenue, control cost of goods/operational costs
to be profitable in 2008.”
The following information was filed by Organic To Go Food Corp on Wednesday, January 16, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.