Rocky Mountain Chocolate Factory Reports Profit In Q1

Rocky Mountain Chocolate Factory Inc RMCF reported first-quarter FY21 revenue growth of 181% year-on-year to $7.59 million.
The company realized $5 million in total factory sales, a 136% hike Y/Y.
Retail sales increased 320% Y/Y to $0.79 million as all company-owned stores being open during the three months ended May 31, 2021.
Royalty and marketing fees rose 425% to $1.7 million primarily due to COVID-19 and the associated public health measures in place.
Same-store sales at domestic franchise locations increased 14.0% compared to pre-pandemic levels.
8.5% operating margin with $0.65 million operating income was recorded.
Adjusted EBITDA for the quarter was $1.1 million.
EPS for the quarter was $0.09, versus a loss of $(0.61) last year. Net income was $0.58 million, versus a net loss of $(3.7) million prior year.
Price action: RMCF shares closed lower by 0.86% at $8.07 on Wednesday.

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