Investor Centre

Second Quarter Highlights Fiscal 2012

• Sales of $4.04 billion, up $132.2 million or 3.4 percent.
• Same-store sales increased 1.9 percent compared with Q2 last year.
• Operating income⁽¹⁾ of $125.8 million versus $114.7 million last year.
• Net earnings, net of minority interest, of $78.1 million ($1.15 per share) compared to $142.9 million ($2.09 per share) last year.  Included in net earnings in Q2 last year was a net gain on the sale of an investment in Wajax Income Fund ("Wajax") of $76.2 million.
• Adjusted net earnings⁽²⁾, net of minority interest, of $74.6 million ($1.10 per share) compared to $69.9 million ($1.02 per share) last year.
• Funded debt to total capital ratio of 25.2 percent compared to 28.0 percent in Q2 last year.
  
  
  (1) Certain balances have been reclassified for changes to comparative figures in the current quarter (see Note 20 to the Company's second quarter unaudited consolidated financial statement).
  (2)  Adjusted net earnings excludes the gain on the sale of Wajax in the second quarter last year and other items which are considered not indicative of underlying business performance.