Second Cup Ltd.'s (SCU.TO: Quote) net income was C$842 thousand or C$0.09 per share, compared to C$1.545 million or C$0.16 per share in 2011. The reduction in net income of C$703 was mainly due to the C$357 thousand decline in EBITDA and a deferred income tax expense of C$458 thousand as a result of an increase in the future tax rates.
Same café sales decline of 1.5% in the quarter.
Total revenues for the quarter were C$6.175 million, up from C$6.072 million last year.
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by RTT Staff Writer
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