Dart Drug reported a 342 percent increase in profits for the quarter that ended July 31. Earnings totaled $4.7 million ($2.71 a share), up from $1.1 million (64 cents) earned during the same three months last year.
The company also reported sharp increases in Trak Auto, in which it owns 66 percent.
Sales for Dart Drug, including sales from Trak Auto, increased 10 percent for the quarter, from $70.1 million to $76.8 million for the quarter.
For the six months that ended July 31, profits, including those from Trak Auto and Crown Books (in which Dart owns 50 percent) increased 320 percent to $6.5 million ($3.72) from $1.5 million (92 cents) a share before a gain of $8.3 million ($4.97) taken in the same six months the previous year. Sales for the six months increased 9 percent to $138.2 million from $127.1 million.
For the three months ending July 31, Trak Auto's profits increased to $1.7 million (28 cents) from $1.15 million (29 cents) last year. Earnings per share were lower this year, however, because of the initial public stock offering of 2 million shares last May.