Monro Muffler Brake Q3 Profit Beats View - Quick Facts

(RTTNews) - Monro Muffler Brake Inc. (MNRO) reported higher net income $15.3 million or $0.47 per share for the third quarter, from $11.3 million, or $0.35 per share, in the prior-year period. On average, 9 analysts polled by Thomson Reuters expected earnings per share of $0.44 for the quarter. Analysts' estimates typically exclude one-time items.

Sales for the third quarter of fiscal 2014 rose 13.8% year-on-year to $216.7 million, from $190.4 million, due mainly to higher sales from new stores and a comparable-store sales growth of 0.3%. Eight analysts estimated revenues of $217.41 million for the quarter. Comparable-store sales improved about 2% for brakes and 1% for tires, whilst it declined nearly 1% for maintenance, front end/shocks and exhaust, and 4% for alignments.

Quarterly gross margin improved to 38.0%, from 36.6% last year, due to reduced product costs and payroll control, as well as leverage of distribution and occupancy costs, which overcame a sales mix shift to the tire category chiefly related to recently-acquired stores.