Ingles Markets Q2 Profit Rises - Quick Facts

(RTTNews) - Ingles Markets Incorporated (IMKTA) reported second-quarter net income of $10.5 million compared to $8.1 million, previous year. Earnings per share for class A stock were $0.46, compared to $0.33. Earnings per share for Class B stock were $0.43, compared to $0.32.

The company noted that its results for the prior year's second quarter included $4.1 million in gains from the sale or disposal of assets compared with $83 thousand in the second quarter of the current fiscal year.

Net sales increased by 2.9% to $947.8 million from $920.7 million. The company said the growth in sales was negatively affected by the Easter holiday, which benefited sales in the second quarter of last fiscal year but will not occur until the third quarter this fiscal year. Comparable store sales excluding gasoline and extra Easter 2013 sales, increased 2.5%.