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In particular, analyzes further details 2009 all star game baseball gathers and descriptions ofthese and other factors are disclosed in the Company's Annual InformationForm under "Risk Factors" and in the "Risks and Uncertainties" section ofthe Management's Discussion & Analysis. We expressly disclaim anyobligation or intention to update or revise any forward-lookingstatements, whether as a result of new information, future events orotherwise, unless required by the applicable securities laws. This pressrelease also contains certain non-GAAP financial measures. Suchinformation is reconciled to the most directly comparable financialmeasures, as set forth in the Management's Discussion & Analysis,included in the Company's Third Quarter Report to Shareholders.THE JEAN COUTU GROUP (PJC) INC.Consolidated statements of earnings13 weeks 39 weeksFor the periods ended November 29, 2008 and December 1, 20072008 2007 20082007--------------------------------------------------------------------------------------------------------------------------------------------------(unaudited, in millions of Canadian dollars, unless otherwise noted)$$$ $Sales 562.1526.61,588.7 4,210.7Other revenues 58.2 56.4173.4 169.9-------------------------------------------------------------------------620.3583.01,762.1 4,380.6Operating expensesCost of goods sold512.5477.7 1449.4 3,377.0General and operating expenses50.0 47.2146.4 745.1Restructuring charges ---29.3Amortization3.93.9 11.911.5-------------------------------------------------------------------------566.4528.81,607.7 4,162.9-------------------------------------------------------------------------Operating income 53.9 54.2154.4 217.7Financing expenses5.10.37.975.9Adjustment to gain (gain) on sale of the retail sales segment -3.5-(140.4)Loss on early debt retirement --- 178.9-------------------------------------------------------------------------Earnings before the following items 48.8 50.4146.5 103.3Share of loss from investments subject to significant influence 73.9 31.6200.461.2Allowance for loss in value of an investment subject to significant influence357.8-357.8 -Income taxes 16.39.3 46.830.7-------------------------------------------------------------------------Net earnings (loss)(399.2) 9.5 (458.5) 11.4--------------------------------------------------------------------------------------------------------------------------------------------------Earnings (loss) per share, in dollarsBasic (1.66)0.04(1.87) 0.04Diluted (1.66)0.04(1.87) 0.04--------------------------------------------------------------------------------------------------------------------------------------------------Consolidated statements of comprehensive income13 weeks 39 weeksFor the periods ended November 29, 2008 and December 1, 20072008 2007 20082007--------------------------------------------------------------------------------------------------------------------------------------------------(unaudited, in millions of Canadian dollars) $$$ $Net earnings (loss)(399.2) 9.5 (458.5) 11.4Other comprehensive income (loss)Foreign currency translation adjustments173.9(80.9) 258.2(3.6)Income taxes on the above item - 14.1-15.1-------------------------------------------------------------------------173.9(66.8) 258.211.5-------------------------------------------------------------------------Comprehensive income (loss)(225.3) (57.3)(200.3) 22.9--------------------------------------------------------------------------------------------------------------------------------------------------THE JEAN COUTU GROUP (PJC) INC.Consolidated statements of changes in shareholders' equity13 weeks 39 weeksFor the periods ended November 29, 2008 and December 1, 20072008 2007 20082007--------------------------------------------------------------------------------------------------------------------------------------------------(unaudited, in millions of Canadian dollars) $$$ $Capital stock, beginning of period681.5789.6715.4 789.5Redemption of capital stock(33.4) (59.4) (67.3)(59.6)Options exercised -0.3- 0.6-------------------------------------------------------------------------Capital stock, end of period648.1730.5648.1 730.5--------------------------------------------------------------------------------------------------------------------------------------------------Contributed surplus, beginning of period 22.36.7 16.7 4.5Stock-based compensation cost0.3-0.8 2.2Stock-based compensation from investment subject to significant influence - Rite Aid 3.68.68.7 8.6-------------------------------------------------------------------------Contributed surplus, end of period 26.2 15.3 26.215.3--------------------------------------------------------------------------------------------------------------------------------------------------Retained earnings, beginning of period839.11,312.6930.8 1,333.9Impact of the adoption of new accounting standards---(4.5)Net earnings (loss)(399.2) 9.5 (458.5) 11.4-------------------------------------------------------------------------439.91,322.1472.3 1,340.8Dividends(9.7) (10.3) (29.3)(28.5)Excess of purchase price over carrying value of Class A subordinate voting shares acquired(11.3) (86.2) (24.1)(86.7)-------------------------------------------------------------------------Retained earnings, end of period418.91,225.6418.9 1,225.6--------------------------------------------------------------------------------------------------------------------------------------------------Accumulated other comprehensive income (loss), beginning of period (94.5) (99.4)(178.8) (177.7)Foreign currency translation adjustments, net of income taxes 173.9(66.8) 258.211.5-------------------------------------------------------------------------Accumulated other comprehensive income (loss), end of period 79.4 (166.2)79.4(166.2)---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Total shareholders' equity 1,172.61,805.21,172.6 1,805.2--------------------------------------------------------------------------------------------------------------------------------------------------THE JEAN COUTU GROUP (PJC) INC.As at As atNovember 29,March 1,Consolidated balance sheets20082008--------------------------------------------------------------------------------------------------------------------------------------------------(in millions of Canadian dollars) $ $ (unaudited) (audited)AssetsCurrent assetsAccounts receivable 201.0 167.9Inventories 165.4 154.7Prepaid expenses5.4 5.2-------------------------------------------------------------------------371.8 327.8Investments 856.6 1,143.2Capital assets361.6 329.3Goodwill 35.735.3Other long-term assets142.2 113.7-------------------------------------------------------------------------1,767.9 1,949.3--------------------------------------------------------------------------------------------------------------------------------------------------LiabilitiesCurrent liabilitiesAccounts payable and accrued liabilities233.9 201.7Income taxes payable 39.262.9Current portion of long-term debt 3.2 2.0-------------------------------------------------------------------------276.3266.6Long-term debt290.2 169.5Other long-term liabilities28.829.1-------------------------------------------------------------------------595.3 465.2-------------------------------------------------------------------------Shareholders' equityCapital stock 648.1 715.4Contributed surplus26.216.7Retained earnings 418.9 930.8Accumulated other comprehensive income (loss)79.4(178.8)-------------------------------------------------------------------------498.3 752.0-------------------------------------------------------------------------1,172.6 1,484.1-------------------------------------------------------------------------1,767.9 1,949.3--------------------------------------------------------------------------------------------------------------------------------------------------THE JEAN COUTU GROUP (PJC) INC.Consolidated statements of cash flows13 weeks 39 weeksFor the periods ended November 29, 2008 and December 1, 20072008 2007 20082007--------------------------------------------------------------------------------------------------------------------------------------------------(unaudited, in millions of Canadian dollars) $$$ $Operating activitiesNet earnings (loss)(399.2) 9.5 (458.5) 11.4Items not affecting cashAmortization6.24.8 16.918.1Adjustment to gain (gain) on sale of the retail sales segment-3.5-(140.4)Write-off of deferred financing fees ---67.9Change in fair value of third party asset-backedcommercial paper3.63.73.6 3.7Share of loss from investments subject to significant influence 73.9 31.6200.461.2Allowance for loss in value of an investment subject to significant influence357.8-357.8 -Future income taxes 2.5 (0.2) 7.2 (37.2)Other 0.9 (3.2) 0.612.6------------------------------------------------------------------------- 45.7 49.7128.0(2.7)Net changes in non-cash asset and liability items 22.84.9(35.8) 48.1-------------------------------------------------------------------------Cash flow provided by operating activities68.5 54.6 92.245 NBA All Star Celebrity Game .4-------------------------------------------------------------------------Investing activitiesProceeds of disposal from the retail sales segment-(46.1) - 2,404.0Investments(2.8)(5.6)(3.6)(41.0)Purchase of capital assets (19.6)(7.1) (41.0)(32.7)Proceeds from disposal of capital assets 0.5-0.8 6.7Other long-term assets (13.5)(2.1) (48.8) (2.5)-------------------------------------------------------------------------Cash flow provided by (used in) investing activities (35.4) (60.9) (92.6)2,334.5-------------------------------------------------------------------------Financing activitiesNet change in revolving credit facility, net of costs 21.4154.2121.4 154.1Repayment of long-term debt(0.1)(0.1)(0.3) (2,381.1)Issuance of capital stock-0.3- 0.7Redemption of capital stock(44.7)(146.3) (91.4) (146.3)Dividends(9.7) (10.3) (29.3)(28.5)-------------------------------------------------------------------------Cash flow provided by (used in) financing activities (33.1)(2.2) 0.4(2,401.1)-------------------------------------------------------------------------Effect of foreign exchange rate changes on cash and cash equivalents- (0.1) -(114.6)-------------------------------------------------------------------------Decrease in cash and cash equivalents - (8.6) -(135.8)Cash and cash equivalents, beginning of period-8.6- 135.8-------------------------------------------------------------------------Cash and cash equivalents, end of period --- ---------------------------------------------------------------------------------------------------------------------------------------------------THE JEAN COUTU GROUP (PJC) INC.Consolidated segmented informationFor the periods ended November 29, 2008 and December 1, 2007(unaudited, in millions of Canadian dollars)--------------------------------------------------------------------------------------------------------------------------------------------------The Company has two reportable segments: franchising and retail sales.Within the franchising segment, the Company carries on the franchisingactivity of the "PJC Jean Coutu" banner, operates two distributioncentres and coordinates several other services for the benefit of itsfranchisees. During the fiscal year 2007, the Company also operated inthe retail sales segment through outlets selling pharmaceutical and otherproducts under the "Brooks" and "Eckerd" banners. On June 4, 2007, theCompany sold its interest in the "Brooks" and "Eckerd" outlets for cashand an equity interest in Rite Aid Corporation ("Rite Aid"). As a result,the Company's retail sales segment is represented by the investment inRite Aid.The Company analyzes the performance of its operating segments based ontheir operating income before amortization, which is not a measure ofperformance under Canadian generally accepted accounting principles("GAAP").

However, management uses this performance measure for assessingthe operating performance of its reportable segments.Segmented information is summarized as follows:13 weeks 39 weeks 2008 2007 20082007-------------------------------------------------------------------------$$$ $Revenues (1)Franchising 620.3583.01,762.1 1,671.7Retail sales--- 2,708.9-------------------------------------------------------------------------620.3583 NBA All Star Jam Session - nba .01,762.1 4,380.6--------------------------------------------------------------------------------------------------------------------------------------------------Operating income before amortizationFranchising60.1 59.0171.3 168.8Retail sales---63.4------------------------------------------------------------------------- 60.1 59.0171.3 232.2--------------------------------------------------------------------------------------------------------------------------------------------------AmortizationFranchising (2) 6.24.8 16.914.5Retail sales---82.2Reversal of amortization of the retail sales segment in consolidation (3) --- (82.2)-------------------------------------------------------------------------6.24.8 16.914.5--------------------------------------------------------------------------------------------------------------------------------------------------Operating incomeFranchising53.9 54.2154.4 154.3Retail sales--- (18.8)Reversal of amortization of the retail sales segment in consolidation (3) ---82.2------------------------------------------------------------------------- 53.9 54.2154.4 217.7--------------------------------------------------------------------------------------------------------------------------------------------------(1) Revenues include sales and other revenues.(2) Including amortization of incentives paid to franchisees.(3) For the period from August 23, 2006 to June 4, 2007, the Company ceasedamortizing the assets related to its US operations since they wereclassified as assets held for sale.13 weeks 39 weeks 2008 2007 20082007-------------------------------------------------------------------------$$$ $Share of loss from investments subject to significant influenceRetail sales (1) 73.9 31.6200.461.2------------------------------------------------------------------------- 73.9 31.6200.461.2--------------------------------------------------------------------------------------------------------------------------------------------------Allowance for loss in value of an investment subject to significant influenceRetail sales (1)357.8-357.8 --------------------------------------------------------------------------357.8-357.8 ---------------------------------------------------------------------------------------------------------------------------------------------------Capital assets paidFranchising19.67.1 41.020.5Retail sales---12.2------------------------------------------------------------------------- 19.67.1 41.032.7--------------------------------------------------------------------------------------------------------------------------------------------------As at As atNovember 29,March 1, 20082008-------------------------------------------------------------------------$ $Capital assets and goodwillFranchising 397.3 364.6-------------------------------------------------------------------------397.3 364.6--------------------------------------------------------------------------------------------------------------------------------------------------Total assetsFranchising 966.9 860.0Retail sales (1)801.0 1,089.3-------------------------------------------------------------------------1,767.9 1,949.3--------------------------------------------------------------------------------------------------------------------------------------------------The Company's revenues, capital assets and goodwill as well as total assetsfor the geographic areas of Canada and the United States correspond to thefranchising and retail sales segments respectively.(1) Represents the Company's equity investment in Rite Aid.THE JEAN COUTU GROUP (PJC) INC.Unaudited additional informationFor the periods ended November 29, 2008 and December 1, 2007(In millions of Canadian dollars except for margins)--------------------------------------------------------------------------------------------------------------------------------------------------13 weeks 39 weeks 2008 2007 20082007-------------------------------------------------------------------------$$$ $CanadaSales 562.1526.61,588.7 1,505.4Cost of goods sold512.5477.71,449.4 1,369.2-------------------------------------------------------------------------Gross profit 49.6 48.9139.3 136.2As a % of sales 8.8% 9.3% 8.8%9.0%Other revenues (1) 60.5 57.3178.4 169.3General and operating expenses50.0 47.2146.4 136.7-------------------------------------------------------------------------Operating income before amortization 60.1 59.0171.3 168.8Amortization (1)6.24.8 16.914.5-------------------------------------------------------------------------Operating income 53.9 54.2154.4 154.3--------------------------------------------------------------------------------------------------------------------------------------------------(1) Amortization of incentives paid to franchisees is presented inamortization instead of being applied against other revenues as in theconsolidated financial statements.Non-GAAP measures - Operating income before amortization ("OIBA") andOIBA before restructuring chargesOIBA and OIBA before restructuring charges are not measures ofperformance under Canadian generally accepted accounting principles("GAAP"); however, management uses those performance measures inassessing the operating and financial performance of its reportablesegments . Besides, we believe that OIBA and OIBA before restructuringcharges are additional measures used by investors to evaluate operatingperformance and capacity of a company to meet its financial obligations.However, OIBA and OIBA before restructuring charges are not and must notbe used as alternatives to net earnings or cash flow generated byoperating activities as defined by GAAP action all stars . OIBA and OIBA beforerestructuring charges are not necessarily indications that cash flow willbe sufficient to meet our financial obligations all star . Furthermore, ourdefinitions of OIBA and OIBA before restructuring charges may not benecessarily comparative to similar measures reported by other companies.Net earnings (loss), which is a performance measure defined by GAAP, isreconciled hereunder with OIBA and OIBA before restructuring charges.13 weeks 39 weeks 2008 2007 20082007-------------------------------------------------------------------------$$$ $Net earnings (loss)(399.2) 9.5 (458.5) 11.4Financing expenses5.10.37.975.9Adjustment to gain (gain) on sale of the retail sales segment-3.5-(140.4)Loss on early debt retirement --- 178.9Share of loss from investments subject to significant influence 73.9 31.6200.461.2Allowance for loss in value of an investment subject to significant influence357.8-357.8 -Income taxes 16.39.3 46.830.7-------------------------------------------------------------------------Operating income 53.9 54.2154.4 217.7Amortization per financial statements 3.93.9 11.911.5Amortization of incentives paid to franchisees (1)2.30.95.0 3.0-------------------------------------------------------------------------Operating income before amortization ("OIBA")60.1 59.0171.3 232.2--------------------------------------------------------------------------------------------------------------------------------------------------Restructuring charges ---29.3-------------------------------------------------------------------------OIBA before restructuring charges 60.1 59.0171.3 261.5--------------------------------------------------------------------------------------------------------------------------------------------------(1) Amortization of incentives paid to franchisees is applied against otherrevenues in the consolidated financial statements.Non-GAAP measures - Earnings (loss) before specific items or earnings(loss) per share before specific itemsEarnings (loss) before specific items and earnings (loss) per sharebefore specific items are non-GAAP measures all star 2009 . The Company believes that itis useful for investors to be aware of significant items of an unusual ornon recurring nature that have adversely or positively affected its GAAPmeasures, and that the above-mentioned non-GAAP measures provideinvestors with a measure of performance with which to compare its resultsbetween periods without regard to these items.

The Company's measuresexcluding certain items have no standardized meaning prescribed by GAAPand are not necessarily comparable to similar measures presented by othercompanies and therefore should not be considered in isolation.Net earnings (loss) are reconciled hereunder to earnings (loss) beforespecific items . All amounts are net of income taxes when applicable.13 weeks 39 weeks 2008 2007 20082007-------------------------------------------------------------------------$$$ $Net earnings (loss)(399.2) 9.5 (458.5) 11.4Restructuring charges ---17.1Reversal of amortization of the retail sales segment in consolidation --- (47.9)Unrealized foreign exchange losses on monetary items 0.6-0 NBA All Star Celebrity Game tickets .810.3Unrealized losses on derivative financial instruments--- 3.1Adjustment to gain (gain) on sale of the retail sales segment -2.9 - (73.1)Loss on early debt retirement --- 125.0Change in fair value of third party asset-backed commercial paper 3.63.03.6 3.0Allowance for loss in value of an investment subject to significant influence357.8-357.8 --------------------------------------------------------------------------Earnings (loss) before specific items(37.2)15.4(96.3) 48.9--------------------------------------------------------------------------------------------------------------------------------------------------Net earnings (loss) per share are reconciled hereunder to earnings (loss) per share before specific items all star celebrity game . All amounts are net of income taxes when applicable.13 weeks 39 weeks 2008 2007 20082007-------------------------------------------------------------------------$$$ $Earnings (loss) per share(1.66)0.04(1.87) 0.04Restructuring charges ---0.07Reversal of amortization of the retail sales segment in consolidation--- (0.18)Unrealized foreign exchange losses on monetary items ---0.04Unrealized losses on derivative financial instruments---0.01Adjustment to gain (gain) on sale of the retail sales segment- 0.01- (0.28)Loss on early debt retirement ---0.48Change in fair value of third party asset-backed commercial paper0.02 0.01 0.020.01Allowance for loss in value of an investment subject to significant influence 1.49- 1.46 --------------------------------------------------------------------------Earnings (loss) per share before specific items (0.15)0.06(0.39) 0.19--------------------------------------------------------------------------------------------------------------------------------------------------Contacts:Source:The Jean Coutu Group (PJC) Inc.Andre BelzileSenior Vice-President, Finance and Corporate Affairs450-646-9760Information:Helene BissonSenior Director, Communication450-646-9611, Ext 1165Copyright 2009, Market Wire, All rights reserved.-0- all star game . PHILADELPHIA, PA, Jan 08 (MARKET WIRE) -- Join surgeons, Drs all star game 2009 . Joseph Amaral, Paul Curcillo, Santiago Horgan, andBarry McKernan, for a free one-hour live webcast highlighting minimallyinvasive techniques and advances in minimally invasive gallbladdersurgery.

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