UPDATE: Crumbs Bake Shop (CRMB) Misses Q2 EPS by 6c; Warns of Capital Needs for Expansion
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(Updated - August 14, 2012 4:20 PM EDT)
Crumbs Bake Shop, Inc. (NASDAQ: CRMB) reported Q2 EPS of ($0.14), $0.06 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $11.1 million versus the consensus estimate of $19.2 million.
UPDATE - From the release: " In 2013, Crumbs anticipates opening as many as 25 stores. The Company will need significant capital to implement this growth strategy successfully. If the Company cannot generate a significant increase in cash from sales, it will need to raise additional capital through public or private financings to fund its growth initiatives. The availability of capital would depend on numerous factors that cannot be predicted, so there can be no assurance that additional capital would be available, in the amounts or terms acceptable to the Company.
In addition, the Company is also selectively looking to terminate some existing leases, for underperforming stores, as part of its ongoing efforts to strengthen its overall portfolio."
For earnings history and earnings-related data on Crumbs Bake Shop, Inc. (CRMB) click here.
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Crumbs Bake Shop, Inc. (NASDAQ: CRMB) reported Q2 EPS of ($0.14), $0.06 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $11.1 million versus the consensus estimate of $19.2 million.
UPDATE - From the release: " In 2013, Crumbs anticipates opening as many as 25 stores. The Company will need significant capital to implement this growth strategy successfully. If the Company cannot generate a significant increase in cash from sales, it will need to raise additional capital through public or private financings to fund its growth initiatives. The availability of capital would depend on numerous factors that cannot be predicted, so there can be no assurance that additional capital would be available, in the amounts or terms acceptable to the Company.
In addition, the Company is also selectively looking to terminate some existing leases, for underperforming stores, as part of its ongoing efforts to strengthen its overall portfolio."
For earnings history and earnings-related data on Crumbs Bake Shop, Inc. (CRMB) click here.
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