San Antonio / TX. (tpc) Tootie Pie Company Inc. reported that annual revenue jumped 35 percent to 2’732’858 USD for fiscal year ending March, 2012, versus 2’027’547 USD for March, 2011. «We made a significant investment in our Tootie Pie Gourmet Cafes in the last couple of years and that investment is paying off», reported Don L. Merrill, Jr. President and CEO. «Our Cafes are doing well and we are very excited about the upcoming holiday pie season».
Cash Flow (Ebitda and other non cash items) improved 33 percent to a loss of 363’116 USD for the year ending March 31, 2012, versus 539’752 USD for the same period in 2011. «Retail sales jumped 88 percent, which contributed to a nice improvement to our bottom line», Merrill continued. «I expect these trends to continue into our current year and I believe we have the components in place to achieve profitability».
Gross Profit came in at a record 1’697’382 USD for the year, up 26 percent from 1’251’798 USD for the prior year. Net loss, which includes depreciation, amortization and other noncash items, improved 21 percent to 861’262 USD for the twelve months ending March 31, 2012, versus 1’094’001 USD for the twelve months in 2011. The improvement was principally due to a reduction in non-recurring start up related and operating expenses incurred to open, staff and operate additional Cafe locations, as well as an 87,8 percent increase in higher margin retail sales, coming primarily through our Cafes.
