Market Overview

Tootie Pie Company Quarterly Revenues Up 100%


Tootie Pie Company, Inc. (OTCQB:TOOT) reported that quarterly revenue jumped 100%, to $630,601 for quarter ending September 2011, versus $315,907 for September 2010.

“This was an important quarter,” reported Don L. Merrill, Jr. President & CEO. “Doubling our revenue is confirmation of the success of our aggressive growth strategy.”

“Our revenue growth has allowed us to invest in seven Cafes; build up our pre-holiday inventory and still flow impressive operational cash flow to our bottom line,” added Merrill. “After accounting for non-cash and non-recurring expenses, we were cash flow positive. I think that is very significant.”

Gross profit increased 104% to $399,960 for the period, versus $196,192 for the same period in 2010. Operating expenses increased 47% to $588,833 for the current period, up from $397,626 for the same period in 2010. The increase in operating expenses is a result of the overall increase in production for anticipated sales increases, as well as expenses related to our five Tootie Pie Gourmet Cafés, four of which we did not own in 2010. We also incurred some construction expenses related to our two newest Cafes, which, when completed, will bring our Café total to seven; as well as some employee stock and option compensation expenses. Net loss, which includes non-cash and non-recurring items, depreciation and amortization, dropped 12% to $178,782 for the three months ending September 30, 2011, versus $200,059 for the three months ending September 30, 2010.

About Tootie Pie Co.

Tootie Pie Company bakes and sells high-quality, handmade pies through three basic sales channels: retail, corporate and wholesale. The retail segment serves individual customers through sales in its Tootie Pie Gourmet Cafés, in-store sales, orders via telephone and internet on the Company's website. The corporate segment serves businesses that purchase pies as a way to promote their company through client and employee appreciation programs. The wholesale segment is made up of national and regional broad line grocery and foodservice distributors who purchase pies and then resell them through their respective sales distribution channels. Tootie Pie Company is a public company traded on the OTCQB market under the symbol “TOOT.” For additional information or to receive correspondence from Tootie Pie Company, please visit

Forward-Looking Statements

This press release may contain forward-looking statements. The words “believe,” “expect,” “should,” “intend,” “estimate,” and “projects,” variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file with the U.S. Securities and Exchange Commission (SEC).

Source: Business Wire (November 16, 2011 – 9:00 AM EST)

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The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

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