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Article: Midas Reports Third Quarter Earnings of $0.10 Per Diluted Share; 18 Percent Increase in Traffic at U.S. Midas Shops Offset by Decline in Average Ticket; 11 Additional Midas Shops Co-Branded During the Quarter.(Financial report)
- Article from:
- Business Wire
- Article date:
- October 29, 2009
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ITASCA, Ill. -- Midas, Inc. (NYSE: MDS) reported net earnings of $1.4 million--or $0.10 per diluted share--for the third quarter ended Oct. 3, 2009. The 2009 results compare to net earnings of $1.7 million--or $0.12 per diluted share--in 2008.
Operating income was $4.6 million during the quarter, compared to $5.3 million in the prior year. This $0.7 million decline was the result of fewer franchised shops in operation, start-up losses at co-branded company-operated shops and a 1.4 percent decline in comparable shop sales at Midas shops in North America. The comparable shop sales decline had a $0.2 million negative impact on operating income.
Operating ...