USA: Triarc Reports Second Quarter 2000 Results
Triarc Companies, Inc. (NYSE:TRY) announced today a 7% increase in Snapple(R) case sales in the 2000 second quarter which contributed to an 11% increase to $26.0 million in premium beverage adjusted EBITDA (earnings before interest, taxes, other non-operating items, depreciation and amortization and unusual or non-recurring items). Compared to the second quarter of 1999, total adjusted EBITDA for consumer products increased 9% to $44.3 million reflecting continued strength at Snapple, Stewart's(R), Royal Crown(R) and Arby's(R). Including unusual or non-recurring items, 2000's second quarter net income was $4.6 million, or $.18 per share, compared with 1999's second quarter net income on the same basis of $4.2 million, or $.15 per share. Excluding unusual or non-recurring items, 2000's second quarter net income was $3.3 million, or $.13 per share, compared with 1999 second quarter net income on the same basis of $6.0 million, or $.22 per share. Cash EPS in the second quarter of 2000 was $.44 per share compared to $.38 per share in the comparable 1999 period. Per share amounts are presented on a diluted basis.
August 11, 2000