Harris + Hoole ramps up expansion

first_imgHarris + Hoole, the Tesco-backed coffee shop venture from Taylor St Barista, has revealed plans to open 10 more sites.M&C Report, a sister title of British Baker aimed at the eating-out market, has claimed the roll-out of the sites will take place in the south east over the next four months.The 14-strong group, which has already secured a number of former high street retail units, is set to open a further seven sites across London, including a flagship site in Cannon Street, plus outlets in Guildford, Sunbury and Watford.Meanwhile, the group has also employed Sean Burlinson, former menu development chef at Spirit Pub Company, to oversee the food offer across its regional sites.Burlinson left Spirit earlier this year, where he had developed menus for its Flaming Grill and John Barras brands.last_img read more

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Green Mountain Coffee reports 64 percent sales growth in Q3

first_img4,018 Thirteen weeks ended June 26, 2010 Weighted average shares outstanding Thirty-nine weeks ended 6/26/10 $0.13 GREEN MOUNTAIN COFFEE ROASTERS, INC.Unaudited Consolidated Statements of Cash Flows(Dollars in thousands) 131,677,459 $0.37 13,081 Acquisition of Diedrich Coffee, Inc. (25,051) 201,783 Commitments and contingencies 12,124 June 26, 2010 $985,792 Attributing a 64 percent net sales growth by the success of the Keurig Single-Cup Brewing System, Green Mountain Coffee Roasters, Inc of Waterbury has reported strong sales and earnings growth. Net sales for the third quarter of fiscal 2010 increased to $311.5 million as compared to $190.5 million reported in the third quarter of fiscal 2009. According to Generally Accepted Accounting Principles, net income for the third quarter of fiscal 2010 totaled $18.6 million, or $0.13 per fully diluted share; non-GAAP EPS of $0.19.Excluding transaction-related expenses incurred in the quarter, and the resulting tax effect of reversing the tax benefit associated with previously incurred acquisition-related expenses, the Company’s non-GAAP net income for the third quarter of fiscal 2010 was $25.8 million, or $0.19 per diluted share, representing an increase of 82% from $14.1 million, or $0.12 per diluted share, in the third quarter of fiscal 2009.1The Company completed its acquisition of Diedrich Coffee Inc. (’Diedrich’) on May 11, 2010 for $35 per share of common stock in a transaction with a total value of approximately $300 million. The recent Financial Accounting Standards Board (’FASB’) pronouncement on business combinations, effective in fiscal 2010 for the Company, requires acquisition-related costs be expensed rather than capitalized. The Company’s fiscal third quarter GAAP net income is inclusive of approximately $4.0 million of non-deductible expenses associated with the Diedrich acquisition incurred during the fiscal third quarter. In accordance with the FASB pronouncement, because the Diedrich acquisition closed during the fiscal third quarter, this quarter’s GAAP net income also reflects the tax effect of reversing the tax benefit of $3.2 million associated with the $8.1 million of acquisition-related costs for the Diedrich acquisition recorded during the first and second quarters of fiscal 2010.During fiscal 2010’s third quarter, 683 million K-Cup® portion packs were shipped system-wide by all Keurig licensed roasters, representing an increase of 72% over the year-ago quarter. Supporting continued growth in K-Cup demand, there were 846,000 system brewers with Keurig®-branded brewing technology shipped during the third quarter of fiscal 2010 compared to 444,000 shipped during the third quarter of fiscal 2009.The Company completed a three-for-one stock split during the third quarter, effected in the form of a stock dividend. Shareholders of record at the close of business on May 10, 2010 received two additional shares of common stock for every one share of common stock held on that date.Lawrence J. Blanford, GMCR’s President and CEO, said, ‘In our fiscal third quarter, through the strong efforts of all our employees, we delivered excellent results on our key financial performance metrics including revenue, gross margin, operating margin and net income. We have now achieved 11 consecutive quarters of better than 40 percent net sales growth. For the first nine months of fiscal 2010 we have produced net sales growth of 70% and non-GAAP earnings per share growth of 89% over the same period for fiscal year 2009.’‘Continued execution of our strategic business initiatives, including most recently, our acquisition of Diedrich, is driving GMCR’s growth and enabling us to advance adoption and awareness of our growing portfolio of compelling brands,’ said Blanford. ‘We believe the inherent strength of our business model, combined with our passionate employees, the strong support of our business partners and our fervent belief that we can transform the way the world views business are key drivers behind our growth and success.Blanford concluded, ‘The coming holiday buying season is shaping up to be another exciting opportunity for us to help more consumers discover and enjoy outstanding beverages with the convenience and choice of the Keurig Single-Cup brewing system. We are looking for a strong kickoff to our fiscal year 2011 and are providing our initial fiscal year 2011 estimate for sales growth in a range of between 44% to 50% and earnings per share of $1.15 to $1.20.’  Fiscal 2010 Third Quarter Financial ReviewKey Business Drivers & MetricsThe two primary drivers of the $121.0 million, or 64%, increase in the Company’s net sales were increases in total K-Cup portion pack net sales and Keurig brewer and accessory sales.Approximately 86% of consolidated net sales in the third quarter was from the Keurig brewing system and its recurring K-Cup portion pack revenue.Net sales from K-Cup portion packs totaled $197 million in the quarter, up 90%, or $93.1 million, over 2009.Net sales from Keurig brewers and accessories totaled $64 million in the quarter, up 69%, or 26.2 million, from the prior year period.For the Keurig business unit, net sales for the third quarter of fiscal 2010, after the elimination of inter-company sales, were $157.2 million, up 74% from net sales of $90.1 million in the third quarter of fiscal 2009.For the Specialty Coffee business unit (SCBU), net sales for the third quarter of fiscal 2010, after the elimination of inter-company sales, were $154.3 million, up 54% from net sales of $100.4 million in the third quarter of fiscal 2009.Costs, Margins and IncomeThird quarter 2010 gross profit increased to 35.2% of total net sales compared to 33.6% for the corresponding quarter in 2009. This was as a result of higher manufacturing gross margin derived from the increase in volume of the Company’s manufactured K-Cups as a percentage of total system volume.During the third quarter, the Company experienced continued higher levels of warranty expense and sales returns related to a quality issue associated with certain brewer models produced primarily in late calendar 2009. As previously disclosed, the Company implemented hardware and software changes which it believes has corrected the issue. The Company reached agreement with its suppliers and will recover approximately $6 million as reimbursement related to this issue. This recovery was reflected in the third quarter cost of sales as a reduction to warranty expense and substantially offsets the higher warranty expense and sales returns costs incurred in the fiscal third quarter.Selling, general and administrative expenses as a percentage of net sales for the third quarter were 23.0% as compared to 21.7% in the prior year. Third quarter 2010 general and administrative expenses include $4.0 million related to the Diedrich acquisition as well as the amortization of identifiable intangibles of $4.3 million due to the Company’s prior acquisitions as compared to $1.5 million in the prior year third quarter.The Company increased its GAAP operating income by 68%, to $38.2 million, in the third quarter of fiscal 2010, as compared to $22.8 million in the year ago quarter, and improved its GAAP operating margin to 12.3% from 12.0% in the prior year period. Excluding the impact of the $4.0 million transaction-related expenses in the third quarter of fiscal 2010, the Company’s non-GAAP operating income was up 85% to $42.2 million and represented 13.5% of sales compared to $22.8 million, or 12.0% of sales in the prior year.Interest expense was $1.5 million in the third quarter of fiscal 2010, compared to $1.1 million in the prior year quarter.Income before taxes for the third quarter of fiscal 2010 increased 70% to $36.7 million as compared to $21.7 million in the third quarter of fiscal 2009.The Company’s tax rate for the fiscal third quarter was 49.5% as compared to 34.7% in the prior year quarter reflecting the tax effect of the recognition of the estimated total $12 million non-deductible acquisition-related expenses incurred during the Company’s first, second and third quarters of fiscal 2010 for the Diedrich acquisition which closed during the Company’s fiscal third quarter.Balance Sheet HighlightsCash and short-term cash investments were $10 million at June 26, 2010, down from $144.2 million at March 27, 2010, primarily due to the Diedrich acquisition.Accounts receivable increased 88% year-over-year to $128.8 million at June 26, 2010, from $68.5 million at June 27, 2009, as a result of continuing strong sales during the third quarter of fiscal 2010, particularly within the retail channel where days sales outstanding is higher than other channels, and due to the recent Diedrich acquisition.Inventories increased 80% to $186.3 million at June 26, 2010 from $103.2 million at June 27, 2009, reflecting the Company’s effort to ensure sufficient inventories of brewers and K-Cups for the fourth quarter of fiscal 2010.Long-term debt increased to $271.4 million at June 26, 2010 from $72.7 million at March 27, 2010 as a result of the Company’s execution of a $140 million term loan used to pay a portion of the Diedrich purchase price.Business Outlook and Other Forward-Looking InformationFourth Quarter and Fiscal Year 2010With one quarter remaining, the Company has refined its outlook for its fiscal year 2010 and is providing its first estimates for its fourth quarter of fiscal 2010. It now expects:Total fiscal fourth quarter consolidated net sales growth of 58% to 63% resulting in total fiscal 2010 consolidated net sales growth of 66% to 68%, compared to the prior estimate of 62% to 65%.Total fiscal 2010 K-Cup portion packs shipped system-wide by all Keurig licensed roasters to increase in the range of 73% to 76%, compared to prior estimate of 73% to 78%.Fiscal fourth quarter non-GAAP operating margin in the range of 13.0% to 13.5%, resulting in a total fiscal 2010 non-GAAP operating margin in the range of 12.1% to 12.5% excluding acquisition-related transaction expenses.Fiscal 2010 interest expense of $5.5 million to $6.5 million.A tax rate of 39.2% for the fiscal year excluding the tax impact of expenses related to the Timothy’s and Diedrich acquisitions.Fiscal fourth quarter fully diluted non-GAAP earnings per share in the range of $0.18 to $0.20 per share, resulting in total fiscal 2010 fully diluted non-GAAP earnings per share in the range of $0.69 to $0.71 per share, excluding any acquisition-related transaction expenses. The fully diluted non-GAAP earnings per share estimate of $0.69 to $0.71 for the 2010 fiscal year includes $15 million pre-tax or $0.07 per diluted share non-cash amortization expenses related to the identifiable intangibles of the Company’s acquisitions.Capital expenditures for fiscal 2010 in the range of $120 to $140 million, as compared to prior estimates in the range of $105 to $125 million.Depreciation and amortization expenses in the range of $44 to $46 million for fiscal year 2010, including $15 million for amortization of identifiable intangibles, up from prior estimates of $40 to $44 million.First Issue of Company Estimates for Fiscal Year 2011The company also is providing its first estimates for fiscal year 2011:Total consolidated net sales growth of 44% to 50%.Total K-Cup portion packs shipped system-wide to increase in the range of 64% to 68%.Fully diluted earnings per share in the range of $1.15 to $1.20 per share, representing an increase in the range of 62% to 74% over fiscal year 2010’s fully diluted non-GAAP earnings per share estimate range of $0.69 to $0.71 per share. The fiscal 2011 estimate includes approximately $22 million, or approximately $0.09 per share, of non-cash amortization expenses related to the identifiable intangibles mentioned above.Use of Non-GAAP Financial MeasuresIn addition to reporting financial results in accordance with generally accepted accounting principles (GAAP), the Company provides non-GAAP operating results that exclude certain charges or credits such as acquisition-related transaction expenses, the one-time operating income related to the settlement of the Company’s Kraft litigation, and non-cash related items such as amortization of identifiable intangibles. These amounts are not in accordance with, or an alternative to, GAAP. The Company’s management believes that these measures provide investors with greater transparency by helping illustrate the underlying financial and business trends relating to the Company’s results of operations and financial condition and comparability between current and prior periods. Management uses the measures to establish and monitor budgets and operational goals and to evaluate the performance of the Company. Please see the ‘GAAP to Non-GAAP Reconciliation of Unaudited Consolidated Statements of Operations’ tables that accompany this press release for a full reconciliation the Company’s GAAP to non-GAAP results.Green Mountain Coffee Roasters, Inc. will be discussing these financial results and future prospects with analysts and investors in a conference call available via the Internet. The call will take place today at 5:00 PM ET and will be available, with accompanying slides, via live webcast on the Company’s website at www.GMCR.com(link is external). The Company archives the latest conference call on the Investor Relations section of its website for a period of time. A replay of the conference call also will be available by telephone at (719) 457-0820, Passcode 2978546 from 9:00 PM ET on July 28th through 9:00 PM ET on Monday, August 2, 2010.GMCR routinely posts information that may be of importance to investors in the Investor Relations section of its website, including news releases and its complete financial statements, as filed with the SEC. The Company encourages investors to consult this section of its website regularly for important information and news. Additionally, by subscribing to the Company’s automatic email news release delivery, individuals can receive news directly from GMCR as it is released.About Green Mountain Coffee Roasters, Inc.As a leader in the specialty coffee industry, Green Mountain Coffee Roasters, Inc. is recognized for its award-winning coffees, innovative brewing technology, and socially responsible business practices. GMCR’s operations are managed through two business units. The Specialty Coffee business unit produces coffee, tea and hot cocoa from its family of brands, including Tully’s Coffee®, Green Mountain Coffee®, Newman’s Own® Organics coffee, Timothy’s World Coffee® and Diedrich, Coffee People and Gloria Jeans®, a trademark licensed to the Company for use in North America and owned by Gloria Jeans Coffees International Pty. Ltd. The Keurig business unit is a pioneer and leading manufacturer of gourmet single-cup brewing systems. K-Cup® portion packs for Keurig® Single-Cup Brewers are produced by a variety of roasters, including Green Mountain Coffee, Tully’s, Timothy’s and Diedrich. GMCR supports local and global communities by offsetting 100% of its direct greenhouse gas emissions, investing in Fair Trade Certifiedâ ¢ coffee, and donating at least five percent of its pre-tax profits to social and environmental projects. Visit www.gmcr.com(link is external) for more information.Forward-Looking StatementsCertain statements contained herein are not based on historical fact and are ‘forward-looking statements’ within the meaning of the applicable securities laws and regulations. Generally, these statements can be identified by the use of words such as ‘anticipate,’ ‘believe,’ ‘could,’ ‘estimate,’ ‘expect,’ ‘feel,’ ‘forecast,’ ‘intend,’ ‘may,’ ‘plan,’ ‘potential,’ ‘project,’ ‘should,’ ‘would,’ and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Owing to the uncertainties inherent in forward-looking statements, actual results could differ materially from those stated here. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, the impact on sales and profitability of consumer sentiment in this difficult economic environment, the Company’s success in efficiently expanding operations and capacity to meet growth, the Company’s success in efficiently and effectively integrating Timothy’s and Diedrich’s wholesale operations and capacity into its Specialty Coffee business unit, the Company’s success in introducing and producing new product offerings, the ability of lenders to honor their commitments under the Company’s credit facility, competition and other business conditions in the coffee industry and food industry in general, fluctuations in availability and cost of high-quality green coffee, any other increases in costs including fuel, Keurig’s ability to continue to grow and build profits with its roaster partners in the At Home and Away from Home businesses, the Company experiencing product liability, product recall and higher than anticipated rates of warranty expense or sales returns associated with a product quality or safety issue, the impact of the loss of major customers for the Company or reduction in the volume of purchases by major customers, delays in the timing of adding new locations with existing customers, the Company’s level of success in continuing to attract new customers, sales mix variances, weather and special or unusual events, as well as other risks described more fully in the Company’s filings with the SEC. Forward-looking statements reflect management’s analysis as of the date of this press release. The Company does not undertake to revise these statements to reflect subsequent developments, other than in its regular, quarterly earnings releases.-Tables Follow-GREEN MOUNTAIN COFFEE ROASTERS, INC.Unaudited Consolidated Statements of Operations(Dollars in thousands except per share data) (14,949)Net income $0.09 – 131,677,459 $816,650 28,597 119,010,138 (43,127) 320,208 137,681,766 12,708 – – Net Sales General and administrative expenses $5,030 Patent litigation settlement (1,495) 38,187 $0.40 Other long-term liabilities – Accrued compensation costs 27 Diedrich Coffee, Inc. Net Sales (323)Interest expense Net cash provided by operating activities (18,165) – $985,792 Cash and cash equivalents at beginning of period $0.12 Goodwill – 137,898,253 – Additional paid-in capital 131,677,459 (25,051)Net income Other short-term liabilities $190,509 – $41,507 28,597 Cash and cash equivalents Patent Litigation Settlement ====== (1,080)  Income before income taxes (3,992) $985,792 Weighted average shares outstanding $- Thirty-nine weeks ended June 27, 2009 (3,376) 590,174 112,775,280 36,719 Income tax expense 18,570 – 137,898,253 144,835 137,681,766 (9,123)Deferred income taxes Liabilities and Stockholders’ Equity 401,428 66,558 $- Proceeds from borrowings of long-term debt 128,758 $- Basic income per share: Cost of Sales 665,584 36,719   Operating income (232,830) – (1,080) – (Gain) loss on futures derivatives Acquisition- related Transaction Expenses – $0.13 13,054 Patent litigation settlement Income tax expense – – Timothy’s Coffees of the World, Inc. Retained earnings Receivables $(10,361) 53,375 – 12,819 10,151 401,428 – $- $55,750 12,708 – 386,416 64,081 3,257 $0.20 Basic income per share: – Other long-term assets 49,558 – (5,626) ====== 137,681,766 – Current liabilities: 1,700 $1,927 79,772 GREEN MOUNTAIN COFFEE ROASTERS, INC.GAAP to Non-GAAP Reconciliation of Unaudited Consolidated Statements of Operations(Dollars in thousands) 73,013 Acquisition- related Transaction Expenses 21,657 50,000 $190,509 Accrued expenses – (39) (163)Excess tax benefits from equity-based compensation plans Timothy’s Coffees of the World, Inc. $- $18,554 $- – $55,750 General and administrative expenses 126,428 $580,841 (7,517)Net income Tax benefit (expense) from exercise of non-qualified options   and disqualified dispositions of incentive stock options Net income – – Acquisition- related Transaction Expenses Net Sales   Operating income – Stockholders’ equity: Preferred stock, $0.10 par value: Authorized – 1,000,000 shares; No shares issued or outstanding – – (12,124) Provision for doubtful accounts Diluted income per share: (7,517) – – 25 Income tax benefit (expense) (42) Gross Profit – $0.37 241,811 36,478 Cash and cash equivalents at end of period $- Total liabilities and stockholders’ equity $41,507 Net Sales 15,474 Thirty-nine weeks ended June 26, 2010 Thirty-nine weeks ended June 27, 2009Cash flows from operating activities: – $12,124 $0.05 (7,517) Diedrich Coffee, Inc. 20,379 17,264 (1,870)ESOP unallocated shares, at cost ‘ 38,061 shares at June 26, 2010, and September 26, 2009 (17,000) 46,277 (17,000) Thirty-nine weeks ended June 26, 2010 168 Net income – 327 Non-GAAP (188) 13,178 Interest expense General and administrative expenses – $- 112,775,280 Acquisition of Timothy’s Coffee of the World Inc. 112,044 $8,981 $1,197,019 – Intangibles, net $0.01 (14,003)Inventories Net income – (3,851) GAAP – (6,342) $241,811 – $(0.09) (43,127)Net income – (1,500) (3,494)  Income before income taxes Accrued compensation costs (1,495) 131,677,459 $31,146 – – $7,399 12,124 Thirteen weeks ended 6/26/10 Cash flows from investing activities: Proceeds from sale of short-term investments (17,000) $41,507 137,681,766 $- 70,375 111,397,302 117,318,258 Weighted average shares outstanding 21,657 – Long-term debt 144,835 (41,451)Capital expenditures for fixed assets – (29,027)Proceeds from disposal of fixed assets Other income (expense) 22,215 Cost of sales 85,469 64,081 Basic income per share: Net change in revolving line of credit 57,001 9,497 – $8,981 – 3,992 (1,359) 22,776 Selling and operating expenses Gross Profit (205)Proceeds from issuance of common stock $311,514 (84,386) $(0.09) 6,759 280 Excess tax benefits from equity-based compensation plans 5,626 Gross Profit Net cash provided by financing activities – $580,841 $- 66,558 Other expense Other expense – $816,650 Net income – $4,100 Fixed asset purchases included in accounts payable and not disbursed at the end of each period: $12,549 $0.42 1 A complete reconciliation of the Company’s GAAP to non-GAAP results is provided with this announcement.ContactsGreen Mountain Coffee Roasters, Inc. 7.28.2010 $19,058 Total current liabilities $210 6,639 109,731 – $0.53 Acquisition- related Transaction Expenses 119,010,138 Basic income per share: – 1,927 72,903 33,165 $- $7,208 99,600 $311,514 131,677,459 140,000 21,275 (154,208) 940 192,912 Deferred income taxes, net 421 Adjustments to reconcile net income to net cash   provided by operating activities: $0.09 21,657 Acquisition of certain assets of Tully’s Coffee Corporation 9,517 – Amortization 372 – Thirty-nine weeks ended 6/27/09 General and administrative expenses $0.13 $0.13 – – $- Acquisition- related Transaction Expenses Thirteen weeks ended 6/27/09 Accrued expenses $- $1,197,019 6,351 (15,640)Income tax receivable, net (1,080)center_img $1,533 111,397,302 38,187 117,318,258 Net income 28,597 (1,927) GREEN MOUNTAIN COFFEE ROASTERS, INC.GAAP to Non-GAAP Reconciliation of Unaudited Consolidated Statements of Operations(Dollars in thousands) (18,478) (1,495)  Income before income taxes – Loss on disposal of fixed assets 25,267 401,428 33,165 21,544 57,381 – 131,303,879 – – $18,554 441,875 Non-GAAP Weighted average shares outstanding $0.27 46,277 Noncash investing activity: – – 91,559 $- 42,179 207 102,470 – – – $55,750 $- Gross profit 2,500 540,612 137,898,253 137,898,253 – Net (decrease) increase in cash and cash equivalents – Changes in assets and liabilities: $0.05 $- $0.19 Weighted average shares outstanding 25,267 $0.35 (74)Total stockholders’ equity Acquisition- related Transaction Expenses 4,127 Non-GAAP Timothy’s Coffees of the World, Inc. Diedrich Coffee, Inc. (217) (3,494)Income before income taxes 665,584 137,162 102,470 GAAP Cost of Sales 665,584 46,277 – $0.42 58,852 22,776 320,208 – 16,611 (74) 320,208 Weighted average shares outstanding 49 126,428 – GAAP – Income tax payable – (35,325) 119,010,138 – 98,877 – Net cash used for investing activities 111,397,302 1,788 4,892 Basic income per share: 9,123 356,071 $- 522 117,318,258 11,500 Receivables, less allowances of $8,852 and $4,792at June 26, 2010, and September 26, 2009, respectively Proceeds from payment of note receivable (39) $0.13 (70,326) 804 Depreciation 117,318,258 5,681 27 201,783 (43,127) 72,903 –   Operating income – Other current assets – Weighted average shares outstanding 2,514 Income tax benefit (expense) 201,783 – – Total current assets 131,303,879 131,303,879 131,303,879 Deferred income taxes, net – 5,157 137,294 201,603 112,775,280 1,927 Income tax receivable 50,000 112,928 2,971 – 137,681,766 Net income $0.40 $0.01 – (3,376) $0.51 Cash flows from financing activities: – Accounts payable 131,677,459 112,775,280 Patent Litigation Settlement Non-GAAP 3,296 – – Other expense Income tax benefit (expense) – – GAAP Cost of Sales 126,428 $0.28 (3,494) – 55,853 – – – 119,010,138 GREEN MOUNTAIN COFFEE ROASTERS, INC.GAAP to Non-GAAP Reconciliation of Unaudited Consolidated Statements of Operations(Dollars in thousands) 64,081 Repayments of long-term debt Total assets (3,750) 111,397,302 131,303,879 Short-term investments (217)Interest expense 218,821 Capital lease obligations – 457,617 Weighted average shares outstanding 3,979 Net sales 26,599 ===== 191,880 1,071 – 92,873 70,375 6,061 117,318,258 – Diluted income per share: – – Selling and operating expenses 135,981 187 131,303,879 Gross Profit $0.12 $14,140 – Inventories Accounts payable 112,775,280 $- (1,940)Deferred compensation and stock compensation $14,140 $- – $- Patent Litigation Settlement 3,861 12,708 33,165 – 40,711 252,380 – 225,481 179,413 152 (323) (39)Interest expense $25,762 (18,412)Net income – Weighted average shares outstanding September 26, 2009Assets $0.12 119,010,138 119,010,138 137,898,253 $- – Diluted income per share: – Fixed assets, net 587 179,413 Net income – Acquisition- related Transaction Expenses 662,133 112,775,280 Timothy’s Coffees of the World, Inc. $0.14 17,769 $580,841 – 116,521 – – 109,731 Selling and operating expenses – – 126,864 – – – – Net income Net income Accumulated other comprehensive loss Selling and operating expenses Selling and operating expenses Debt assumed in conjunction with acquisitions – Current portion of long-term debt (3,376)  Income before income taxes General and administrative expenses (491,814) 3,992 – 186,262 92,873 137,681,766 ===== Net income – Deferred financing fees $0.14 Diedrich Coffee, Inc. GREEN MOUNTAIN COFFEE ROASTERS, INC.Unaudited Consolidated Balance Sheets(Dollars in thousands) – (18,165) (17,000)Operating income – $190,509 (323)Interest expense – 17,000 36,049 – Other expense – – (217) 111,397,302 Thirteen weeks ended June 27, 2009 Other long-term assets, net – $14,140 10,230 137,898,253 27 98,877 Patent Litigation Settlement (305,261) $69,801 Common stock, $0.10 par value: Authorized – 200,000,000 shares; Issued ‘ 131,783,168 and 130,811,052 shares at June 26, 2010, and September 26, 2009, respectively GREEN MOUNTAIN COFFEE ROASTERS, INC.GAAP to Non-GAAP Reconciliation of Unaudited Consolidated Statements of Operations(Dollars in thousands) $- Restricted cash and cash equivalents Acquisition- related Transaction Expenses Weighted average shares outstanding Diluted income per share: 92,873 Diluted income per share: 253 – 109,731 Net income – $- $- Cost of Sales 144,835 111,397,302   Operating income 117,318,258 – 22,776 Current assets: – 179,413 $0.35 3,216 – – $311,514 Other current assetslast_img read more

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Debbie Mans Named DEP Deputy Commissioner

first_imgBy Jay Cook |TRENTON – A longtime environmentalist who worked to improve the health of local waterways is leaving the Two River area for Trenton.Debbie Mans, the former executive director of the Keyport-based NY/NJ Baykeeper, was appointed last week to serve as the New Jersey Department of Environmental Protection’s (DEP) deputy commissioner, the agency announced. Mans was handpicked by the acting-DEP commissioner, Catherine R. McCabe.The hire has also served as a rallying cry for local environmentalists who say New Jersey will benefit from Mans’ years of expertise and ability to negotiate.“We had to play a lot of defense for the last eight years trying to stop bad things from happening,” said Greg Remaud, the acting executive director of NY/NJ Baykeeper. “We believe now that’s going to reverse.”Mans had been the face of NY/NJ Baykeeper since 2008, a self-proclaimed “citizen guardian” for the Hudson-Raritan Estuary that encompasses waters in New York and New Jersey. Mans and NY/NJ Baykeeper have been busy on the homefront in recent years, pushing for new programs and more pro-environmental legislation on the state level.More recently, Mans has been sternly opposed to the 23-mile-long Williams Transco Pipeline project planned to be built through Raritan Bay. She also testified before Congress last month in support of the $1.3-billion Passaic River Superfund cleanup site program destined for North Jersey.“I am excited to join the Department of Environmental Protection and get to work on a number of key environmental issues facing our state,” said Mans, in a statement. “We need to ensure that New Jersey is on a path to clean energy and sustainability, while also protecting public health, cleaning up polluted sites, and conserving our natural resources.”Mans’ path back to Trenton has been a busy one. From 2006 to 2008, she was the environmental and energy policy advisor to then-Gov. Jon Corzine, helping craft clean energy plans through 2020. Before that, from 2002 through 2006, she served as NY/NJ Baykeeper’s policy director.“Debbie Mans’ commitment to clean energy and conservation makes her an excellent choice to help the DEP lead the nation in developing solutions to such critical issues as climate change and renewable energy,” McCabe said in a statement. “Debbie has spent her entire career devoted to improving the environment for all, and I look forward to her expertise helping shape our mission.”Throughout that tenure of protecting water quality, organizing open space and fighting battles with large energy companies, Mans has collaborated with many of the local environmentalist groups who call the Two River area home.“It’s extremely important and of great value to have someone at that level who not only understands the issues of consequence that affect our quality of life, but also someone that knows the value of grassroots and citizen involvement,” said Cindy Zipf, Clean Ocean Action’s executive director.Zipf said COA has worked with Baykeeper on environmental law enforcement issues, as well as how to tackle green energy on a statewide platform in their time.Yet more than anything, Mans’ hire signals a stark change from Gov. Chris Christie’s DEP, Zipf said.“Time will tell, but it’s certainly a 180 in terms of the interest in broad environmental issues facing our state,” she said.Tim Dillingham, executive director of the American Littoral Society, said state policy is in more-than-capable hands.“She is smart and principled, an unfailing advocate for the environment with a lot of experience in both government and the advocacy sides,” Dillingham said. “I have nothing but high regard for her.”Dillingham and Mans go back to some of their first environmental policy positions. From 2000 to 2002, Mans was a policy and outreach specialist for the Stony Brook-Millstone Watershed Association in Pennington. At the same time, Dillingham was on the board of directors there.Their partnership flourished when they both ended up leading environmental groups headquartered along the same body of water along the Jersey Shore.NY/NJ Baykeeper has been one of the state’s leaders in reintroducing oyster reefs to rivers and bays. Oysters can filter up to 50 gallons of water a day and many believe they could be the answer to helping remove pollutants in the water.After installing manmade oyster castles off of the 2.9-mile-long Naval Weapons Station Earle Pier in Leonardo in 2016, NY/NJ Baykeeper announced in December oyster spat, or baby oysters were found growing on the structures.The American Littoral Society has been trying to implement a similar program in the Navesink and Shrewsbury rivers, beginning this past summer. Dillingham said his organization is following similar steps to see his program flourish in the two rivers.And Dillingham had a message for the private and public sectors who soon will interact with Mans.“She’s a great negotiator and she’s going to find a way to push the public’s agenda and still engage all the stakeholders that the state government has to please,” he said.Remaud Named Acting Executive DirectorNY/NJ Baykeeper announced on Tuesday evening that Greg Remaud would be named the organization’s acting executive director for the time being. Official changes and possible restructuring will happen in March when its board of directors convenes.It’s an honor for Remaud, who has been with NY/NJ Baykeeper now for two decades.“From Dery (Bennett), to Andy (Willner), to Debbie (Mans), those are three extraordinary environmentalists and human beings,” he said. “It means a lot to have that opportunity and follow in those footsteps.”Remaud’s time has been spent as NY/NJ Baykeeper’s conservation director, where he spent years “trying to preserve natural land and open space in areas that are densely developed where (residents) don’t have a lot.”Since the organization began in 1989, it has preserved over 3,500 acres of land ranging from the North Jersey Meadowlands to the Raritan Bayshore. Most recently, NY/NJ Baykeeper helped preserve 250 acres for the newly formulated Freneau Woods, an addition to the Monmouth County Park System.This article was first published in the Feb. 15-22, 2018 print edition of The Two River Times.last_img read more

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STABLE NOTES BY ED GOLDEN – FRIDAY JUNE 5, 2015

first_imgRafael Bejarano10925241823%$1,132,782 Elvis Trujillo585479%$269,290 Mike Puype4147610%$336,790 PROSPECT PARK RETURNS IN SUNDAY’S AFFIRMEDProspect Park is one of five 3-year-olds entered in a small but select field for Sunday’s Grade III Affirmed Stakes, a race Cliff Sise Jr. hopes will be a start to bigger and better things this summer for the son of Tapit owned and bred by Pam and Martin Wygod.Prospect Park drew the No. 5 post position in the 1 1/16-mile race for 3-year-olds.“I’m happy with the outside post,” Sise said. “It gives us options on strategy. I see him sitting outside, second or third, and doing his thing in the stretch.”Prospect Park will be making his first start since April 4, when he finished a troubled fourth behind front-running winner Dortmund in the Grade I Santa Anita Derby.The Affirmed, race three of nine: Gimme Da Lute, Martin Garcia, 5-2; Cyrus Alexander, Rafael Bejarano, 4-1; Cross the Line, Corey Nakatani, 10-1; Om, Fernando Perez, 2-1; and Prospect Park, Kent Desormeaux, 6-5. Gary Stevens1953326%$501,450 Philip D’Amato41136432%$689,940 Tyler Baze13524152418%$1,295,340 Drayden Van Dyke76109713%$439,442 Eddie Truman1361246%$223,150 Tiago Pereira4589518%$341,040 BLUE COLLAR PEDROZA TAKES RED EYE TO NEW YORKWhile Kent Desormeaux, Martin Garcia, Mike Smith and Gary Stevens are already ensconced in New York gearing up for their stakes commitments on Belmont Stakes Day tomorrow, Martin Pedroza was taking care of business first at Santa Anita today.He is scheduled to ride four horses, including Half Dome Dude in the eighth and final before taking a red-eye to the Big Apple where he rides multiple Grade I winner Private Zone in the Grade I, $1,250,000 Metropolitan Handicap on Saturday.It’s just business as usual for the blue collar rider, who turns 50 on July 20.“Today we start racing at 4 o’clock,” said Pedroza’s long-time agent, Richie Silverstein. “The last race should be over by 7:30, we should be out of here by 8, his plane leaves at 11:32, so we have plenty of time. Martin has time to go home and have dinner first if he wants to.“For Marty, today is just another work day.” FINISH LINES: Tough Sunday, the “Medical Miracle” California-bred trained by Steve Miyadi for owner/breeder Nick Alexander, is breezing steadily as he prepares for his return to the races after being sidelined since late January, and could run against California-breds later this month if an overnight race fills. “That would be a prep for the Real Good Deal Stakes at Del Mar,” Miyadi said. “He’s doing great.” Tough Sunday worked five furlongs Friday in 1:05.40. “The time was slow,” said Miyadi, who saddled She Hums to an $18 upset in yesterday’s first race, “but we’ll give him a sharper work next time.” . . . Laz Barrera winner Kentuckian, ticketed for the Los Alamitos Derby on July 4, worked five furlongs for Jerry Hollendorfer Friday in 59.40. Other stakes winners that breezed for the Hall of Fame trainer included Sahara Sky and Wild Dude, five furlongs in 59.60 and 59.80, respectively, while Sam’s Sister went six furlongs in a bullet 1:13.20 . . . O’Neill’s No. One: Trainer Doug O’Neill has four horses entered today. Three drew the inside post, while the other, Diamond Stilettos, landed in the No. 2 slot next to stablemate One More, who got the rail in the third race . . . A piece by CBS Evening News on Victor Espinoza promoting the Belmont Stakes and the Triple Crown can be viewed on the following link: https://youtu.be/OK7jyasw7xU . . . Condolences to the family of longtime Western Harness publicist Bob Wellman, who passed away May 26 at age 73 in Hemet, California . . . Santa Anita will host a book signing tomorrow of John Perrotta‘s new publication, “Racetracker,” from 12 noon to 2 p.m. across from Champions! Gift Shop. All proceeds from the event will benefit the Permanently Disabled Jockeys Fund. . .The Pari-mutuel, ADW and Simulcast Committee meeting of the California Horse Racing Board scheduled for Thursday, June 11, at Los Alamitos Race Course, has been cancelled and will be rescheduled for a yet-to-be determined site . . . Rosie Ybarra, hostess atthe popular dining and drink destination atClockers’ Corner, is wearing a party hat these mornings with a cobra on it in support of American Pharoah‘s pursuit of theTriple Crown, but she won’t go on record verbally. “No comment,” is all she would say. “I don’t want to jinx him.” Mario Gutierrez3553714%$259,348 TrainerSts1st2nd3rdWin%Money Won Richard Baltas43155435%$765,270 Michael Machowsky1954226%$133,170 Edwin Maldonado62812913%$337,450 Mike Smith3278322%$604,310 Santiago Gonzalez7361568%$308,376 Gonzalo Nicolas7666138%$222,508 (Current Through Thursday, June 4) Kent Desormeaux5158610%$266,334center_img Doug O’Neill781315917%$617,628 Jerry Hollendorfer47612613%$447,294 MOST HORSEMEN FAVOR ‘PHAROAH’ IN BELMONTPEDROZA GOING FROM ONE ‘ZONE’ TO ANOTHERPROSPECT PARK POISED FOR SUNDAY’S AFFIRMED Fernando Perez891614918%$582,950 Joseph Talamo951761818%$666,008 Martin Pedroza77511136%$297,844 Vann Belvoir3446512%$150,590 Bob Baffert2252523%$224,610 Felipe Valdez8271369%$321,900 SANTA ANITA STATISTICS Richard Mandella3087427%$656,410 AMERICAN PHAROAH RECEIVES TRIPLE CROWN MANDATEBe it loyalty or logic, Santa Anita-based horsemen see Santa Anita-basedAmerican Pharoah becoming the 12th winner of racing’s Triple Crown and the first since Affirmed in 1978 when the streaking son of Pionnerof the Nile runs in Saturday’s final jewel, the mile and a half Belmont Stakes.Following is a sampling of their thoughts on what horse might win:Barry Abrams: “American Pharoah, but Materiality and Frosted are horses to worry about.”A.C. Avila: “I saw him jog on TV and he was jumping, kicking and bucking. When a horse feels like that, it’s a very good sign. I’m afraid of Mubtaahij. Michael de Kock is a super trainer.”Richard Baltas: “I hope he wins. It would be good for the sport, but I’ve seen too many times when it didn’t happen. It might be Baffert’s turn, though.”David Bernstein: “If it rains, he’s a cinch. It’s always hard to pick against the Kentucky Derby and Preakness winner.”Ray Bell: “He’s the best horse with the strongest constitution. We’ll find out. If any horse can beat him, I think it’s Frosted.”Vann Belvoir: “He looks pretty salty in there. There’s no speed to go with him.”Jim Cassidy: “He’s got a great shot. I hope he does it, but he’s got everything going against him, the distance, fresh horses, but if Victor (Espinoza) doesn’t get in trouble, I hope he does it.”Phil D’Amato: “No doubt he’s got a great chance.”Keith Desormeaux: “I think we’ve all had similar thoughts when there have been Triple Crown possibilities, which has been often in the last 20 years. You’re so excited about it and you want so much to see it happen that you always feel it’s going to be accomplished. I don’t recall ever having the feeling that a horse going for the Triple Crown was going to get beat in the Belmont. I thought California Chrome would do it, Big Brown, War Emblem, Real Quiet. It’s easy to see why they got beat after the race, but I think we’re all fans going into the Belmont.”Caesar Dominguez: “We’re going to have a Triple Crown winner. It will be good for the jockey, good for the trainer, and good for the owner who spends a lot of money in the sport and deserves a Triple Crown winner.”Neil Drysdale: “I would think he should do it.”Ron Ellis: “I have a lot of respect for him, he’s got a great shot, and I hope he does it.”Paddy Gallagher: “I said this before: American Pharoah floats like a butterfly, stings like a bee. Dortmund is like Mike Tyson. There have been others going for the Triple Crown I hoped could win, but it’s not about hope with Pharoah.”Mark Glatt: “I don’t see anything in there that can beat him.”Jorge Gutierrez: “I think he’s going to do it. The race sets up nicely for him. My only concern is Frosted. He’s fresh.”Eoin Harty: “It will be a tough contest but I think he’s up to the task.”Bruce Headley: “He’s a cinch, a super horse, bigger, better and faster than all of them.”Jerry Hollendorfer: “I think he can do it. He’s the best horse all right.”James Kasparoff: “I’m on the fence. There are some fresh horses in there, but if he won, it would be great.”Craig Lewis: “I’ll say this: American Pharoah is the only horse in the race that can win the Triple Crown.”Mike Machowsky: “I think American Pharoah will win, but my value play will be a 6-7 (Frosted-Keen Ice) exacta box. American Pharoah will be pretty tough to beat.”Gary Mandella: “American Pharoah is not a forgone conclusion in my opinion, with three races in five weeks on a very tight schedule. Frosted is a fresh horse.”Richard Mandella: “This is the year. This is it. American Pharoah looks that good.”Ron McAnally: “I’ve picked him all the way through and I can’t get off him now.”Sean McCarthy: “If he has the luck and energy, he’ll win it. He’s the best horse.”Steve Miyadi: “If it rains, there will be a Triple Crown winner. If it doesn’t, there won’t.”John Sadler: “A cinch. Everything’s lined up for him. He’s got the speed, a couple of horses got hurt. I don’t think it’s close.”Gary Stute: “American Pharoah wins rain or shine. Bob (Baffert) deserves it. I watched replays of Real Quiet getting beat (by a nose in the 1998 Belmont) the other day. Bob’s paid his dues.”Eddie Truman: “Absolutely. We’re going to be celebrating, all the stars are aligned.”Dennis O’Neill: “It’s a two-horse race, Frosted and American Pharoah. If it rains, it’s a one-horse race.”Hector Palma: “He looks like the best horse, but Materiality could be tough. He had a lot of problems in the Derby. It would be nice for a Mexican (Victor Espinoza) to win the Triple Crown. He’ll be a bigger hero than Pancho Villa.”Jorge Periban: “I love that horse. He’s going to do it. I don’t think anybody will beat him this time.”Cliff Sise Jr.: “As good as he looks on video, I don’t see how he can get beat. He has a stride I haven’t seen in a long time.”Tim Yakteen: “American Pharoah, of course. Let’s get lucky.”Ted H. West: “It’s so tough. It looks like he’s a super horse, but he has to win three races in five weeks. I hope he wins.”Dan Ward: “I hope he does it.”Howard Zucker: “I’ve been calling American Pharoah the Triple Crown winner for the last four months. I’m not stopping now.”First live post time at Santa Anita tomorrow is 11:30 a.m. Admission gates open at 8 a.m. Post time for the Belmont Stakes is 3:50 p.m. Pacific Time. JockeyMts1st2nd3rdWin%Money Won Martin Garcia2463325%$156,710 Peter Miller561413425%$549,080 Mark Glatt3846711%$231,554 Robertino Diodoro2252323%$153,690 Flavien Prat911718919%$1,079,100 John Sadler4759811%$281,038 Victor Espinoza3166619%$489,320last_img read more

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How sports can influence kids according to Alyssa Valdez

first_imgSerena may lack intimidation factor when she returns on tour, says Evert ADVT Above everything else, she aims to touch the youth with her talents. Valdez believes that children can learn more than being physically healthy from sports. With the ups and downs and constant learning from mistakes that comes with being involved in a team, kids can learn and put to heart being humble and respectful to the people around them.“More than being physically healthy, which everyone needs, it is important to be mentally and socially healthy as well by interacting and playing with other kids,” Valdez says, “They will learn a lot of the little things — saying thank you and sorry and a lot more.”Despite the very hectic schedule of a phenomenal athlete that goes around the world to compete and around the country to share her passion with children, Alyssa Valdez manages to stay healthy by making sure she eats right and takes FERN-C, the #1 Sodium Ascorbate non-acidic vitamin C in the Philippines, daily to get the daily vitamin boost she needs so that, in confidence, she can say “Tiwala Ako Na Kaya Ko!”Visit https://www.facebook.com/fernconline for more!ADVERTISEMENT Fire hits houses in Mandaluyong City Read Next MOST READ Protesters burn down Iran consulate in Najaf PLAY LIST 01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games And true enough, she is doing just that.What with the daily grind of an athlete in training for an international competition, you’d think that during her downtime she’d choose to get the relaxation she very well deserves.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutOn the contrary, she spends her spare time going around the country to give back to her fans who have supported her career.“During my off season I make sure to go around the country to meet all the aspiring volleyball players,” Valdez says, “It’s one way of giving back all the blessings and the learnings I’ve got and one way of reminding myself where I came from.” Frontrow holds fun run to raise funds for young cancer patients  LATEST STORIES Nonong Araneta re-elected as PFF president Fire hits houses in Mandaluyong City View comments When on the go Alyssa believes this: “I can do more than what I’m doing right now.”ADVERTISEMENT BSP sees higher prices in November, but expects stronger peso, low rice costs to put up fight LOOK: Loisa Andalio, Ronnie Alonte unwind in Amanpulo for 3rd anniversary Typhoon Kammuri accelerates, gains strength en route to PH Don’t miss out on the latest news and information. Brace for potentially devastating typhoon approaching PH – NDRRMClast_img read more

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a month ago​Leicester likely to field fringe stars against Luton

first_imgAbout the authorAnsser SadiqShare the loveHave your say ​Leicester likely to field fringe stars against Lutonby Ansser Sadiqa month agoSend to a friendShare the loveLeicester City will ring in the changes as they face off against Luton Town in the Carabao Cup.With the club chasing a high Premier League finish this season, it is understandable they are willing to rotate their squad for a cup game against a lower division side.Brendan Rodgers will give chances to several of his fringe players and youngsters.Players who could feature in the game include Danny Ward, James Justin, Wes Morgan, Christian Fuchs and Demarai Gray.These players are either not in the squad for most Premier League games, or often find themselves on the bench. last_img read more

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Taylor budget bylaw gets first three readings

first_imgTaylor’s business mill rate of 5.55 cents per $1,000 is also the lowest in the PRRD, while its major industry mill rate is the second-highest at 44.22. Only heavy industry in Tumbler Ridge pays a higher rate.In total, Taylor will be bringing in $14,374,223 this year, with $6.3 million to be spent on operating expenses, and $7.4 million on capital expenditures. The Disitrct will be borrowing roughly $3.75 million to begin development of the Parcel Z subdivision. The District began moving forward on developing the 8.9-hectare triangle shaped plot of land west of Spruce St. in December. The District plans to develop the land, which it owns, before selling the up to 65 lots zoned for single family houses to the public.After passing the first three readings, District of Taylor Financial Plan Bylaw No. 825, 2018  is due to be adopted at the next District meeting. TAYLOR, B.C. — The District of Taylor’s five year financial plan bylaw passed first three readings at Tuesday’s Council meeting.The District is following the lead of Fort St. John in largely maintaining the status quo in terms of tax revenue collected by raising tax rates to account for a drop in home value assessments. The average price of a home in Taylor fell from $336,000 to $320,000 this year, while tax rates will be rising from $3.24 to $3.40 per $1,000 in value.Though mill rates are increasing by 16 cents per $1,000 in home value, residents with a home of average value will actually pay 64 cents less in property taxes this year. Taylor still has the second-lowest residential property tax rate of any municipality in the Peace River Regional District, behind only Pouce Coupe’s residential mill rate of around 2.8 percent.last_img read more

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Legislation introduced to address growing number of orphaned wells in BC

first_img“We are taking action to deal with the growing number of orphaned well sites by cleaning them up, as well as preventing this from happening in the future,” said Mungall. “Industry will continue to be responsible for their activities, as we provide additional tools for the BC Oil and Gas Commission to protect the environment.”The levy will be set by the BC Oil and Gas Commission board, with Treasury Board approval.Other amendments to the OGAA will increase the commission’s authority to protect public safety and recover the costs associated with these activities. For example, the OGC would be able to establish roadblocks, if necessary, when dealing with an emergency, and recover the cost of those activities from the permit holder responsible for the situation. Other amendments would improve the commission’s operations and strengthen their capacity to manage heritage resources. FORT ST. JOHN, B.C. — Energy, Mines and Petroleum Resources Minister Michelle Mungall has introduced legislation that, if enacted, would oversee improved restoration of orphaned oil and gas wells in B.C.If approved by the legislature, Bill 15, the Energy, Mines and Petroleum Resources Statutes Amendment Act, 2018, will amend the Oil and Gas Activities Act and the Petroleum and Natural Gas Act. Amendments to the OGAA would improve funding for orphan site restoration by replacing the current tax structure with a levy to be paid into an industry-funded program that addresses the cost of restoration and environmental clean-up. Additional amendments would also limit orphan sites by granting the commission the ability to require permit holders to conduct restoration work on inactive sites.The BC Oil and Gas Commission would also have the power to refuse permit requests if parties had a history of non-compliance.last_img read more

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Man thrown from vehicle and killed in rollover crash north of Wonowon

first_imgWONOWON, B.C. – One man is dead after a single-vehicle crash occurred off the Alaska Highway north of Wonowon on Sunday evneing.Constable Chad Neustaeter with the Fort St. John RCMP said that officers and BC Ambulance Service crews were called out to a single vehicle rollover on the Mile 109 Road, three kilometres from the turnoff to the Alaska Highway, at around 8:00 p.m.The crash involved a single red 2007 Volkswagen Golf with two occupants; a 41-year-old female driver and a 32-year-old male passenger. Cst. Neustaeter said that officers believe the man was ejected from the vehicle during the collision and was declared dead at the scene. The family of the deceased have been notified, his identity has not been released.The woman was taken by ambulance to the Fort St John Regional Hospital for an assessment and was released shortly thereafter.The Fort St John RCMP is imploring all drivers and passengers to properly wear their seatbelts, which are proven to save lives.Police say that alcohol is believed to have been a contributing factor, but the collision remains under investigation.If anyone witnessed the collision, has any dash cam video, or observed the vehicle’s driving behaviour prior to the crash, they are asked to contact the Fort St John RCMP at 250-787-8100. If you wish to remain anonymous call Crime Stoppers at 1-800-222-8477 or submit a tip online at www.crimestoppersnebc.ca.last_img read more

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