Casey’s Reports Fiscal Q1 2011 Results
l EPS of $0.81 Per Share, Excluding Fees Related to Unsolicited Couche-Tard Offer
l Quarterly Dividend Increases 35% Following Successful Recapitalization
l Signs Commitments to Acquire 52 Stores – Company Ahead of Schedule in Achieving Fiscal 2011
Goal of 4-6% Increase of Total Stores
September 07, 2010 08:03 AM Eastern Daylight Time
ANKENY, Iowa--(EON: Enhanced Online News)--Casey’s General Stores, Inc. (“Casey’s” or the “Company”)
(Nasdaq: CASY) today reported basic earnings per share of $0.73 for the first quarter of fiscal 2011 ended July 31,
2010. The results include approximately $6.2 million in legal and advisory fees pertaining to the evaluation of the
unsolicited offer and related actions by Alimentation Couche-Tard Inc. (“Couche-Tard”). Without those fees, basic
earnings per share would have been approximately $0.81 for the quarter, in line with analysts’ consensus estimates.
For the same quarter a year-ago, basic earnings per share were $0.87, a record quarter for the Company which
included a one-time tax benefit of $2.2 million. Casey’s also announced that it has signed commitments to acquire an
additional 52 stores that it anticipates purchasing by the end of the calendar year.
“The solid first quarter results demonstrate that Casey’s continues to execute well on our strategic plan,” said
President and CEO Robert J. Myers. “In addition to rolling out our in-store redesign program, we are expanding
Casey’s footprint in the Midwest through acquisitions and construction of new stores. Our substantial progress to
date, coupled with our robust acquisition pipeline, has us ahead of schedule in achieving our fiscal 2011 goal of
increasing the total number of Casey’s stores by 4-6%. With Casey’s strong post-recapitalization balance sheet, we
expect to continue executing our growth initiatives and driving shareholder returns, including increasing our dividend.”
As announced by Casey’s in a separate press release also issued today, the Compan