Question-and-Answer Session
Operator
(Operator Instructions)
Our first question is coming from Conrad Lyon of FTN Midwest, please go ahead.
Conrad Lyon – FTN Midwest Securities Corp.
Can you give us any idea of what fiscal ’09 growth may look like, it is just to help modeling here?
Steve Davis
The fiscal ’09 growth rate at Mimi’s, we have not announced yet the total number, 17 stores for this year. Fiscal ’09 will probably come down to few stores from that because we have a number of stores in the pipeline, maybe three or four stores actually from that, but that would probably be about where it be, 13 is probably pretty solid, something of that nature.
Conrad Lyon – FTN Midwest Securities Corp.
What recently has been your cash cost to develop at Mimi’s?
Steve Davis
Well, we have around $2.7 million or $2.8 million, that would be basically building an equipment and then a lease which a capitalized lease would probably be another $1.1 million or something of that nature.
Conrad Lyon – FTN Midwest Securities Corp.
Let me shift over to the gift card breakage for a minute here. First thing is the materiality level, is that based on net income or earnings per share? I just wanted to get an idea of something like a penny per share. As it pertains going forward, I just want to make sure on a go-forward basis on what we could expect in terms of perhaps breakage from that material I am assuming it is probably less than a penny per share.
Steve Davis
Yes, maybe a little more than. I think for the full year, it is probably something maybe $700,000 to $800,000 worth of breakage and that would be for full fiscal year because that would be more than a penny.
Conrad Lyon – FTN Midwest Securities Corp.
You mentioned that I was adjusting, assuming that it was a non-cash adjustment?
Steve Davis
That is true, it is a non-cash adjustment.
Conrad Lyon – FTN Midwest Securities Corp.
Let me jump over to the food products, were you able to quantify how much your gain and comparable product sold came from new distribution outlets versus existing outlet. It is actually a balance, we are seeing improved sales in our non-hog related products, mostly are side dishes and non-trays. That is where most of our new authorizations are coming from but in terms of actually splitting it out, I will let Dave and Don meet with you separately and we will see what we can do to provide you some information in that regard.
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