ROCHESTER, N.Y., /PRNewswire-FirstCall/ -- Monro Muffler Brake, Inc. , a leading provider of automotive undercar repair and tire services, today provided an update on second quarter results and announced its participation in three upcoming investor conferences.
Second quarter comparable store sales are currently expected to increase approximately 1%. Comparable store sales for each month of the quarter included a 0.5% decline in July, a 0.4% decline in August, and an approximate 5% increase in September. As such, the Company currently anticipates earnings per diluted share will be at the low end of its previously announced range of $0.48 to $0.52 for the second quarter. The diluted earnings per share estimate excludes the previously announced impairment charge related to the Strauss Discount Auto equity investment. In addition, the Company announced it has been paid in full on its $5 million secured loan to Strauss.
The Company will present at three upcoming investor conferences. The presentation that will be used for the following conferences can be accessed on the Company's web site www.monro.com under the Investor Information link.
The Company currently expects to host a conference call and webcast on Tuesday, October 17, 2006 to report its full second quarter results.
Monro Muffler Brake operates a chain of stores providing automotive undercar repair and tire services in the United States, operating under the brand names of Monro Muffler Brake and Service, ProCare, Mr. Tire and Tread Quarters Discount Tires. The Company currently operates 701 stores and has 16 dealer locations in New York, Pennsylvania, Ohio, Connecticut, Massachusetts, West Virginia, Virginia, Maryland, Vermont, New Hampshire, New Jersey, North Carolina, South Carolina, Indiana, Rhode Island, Delaware, Maine and Michigan. Monro's stores provide a full range of services for exhaust systems, brake systems, steering and suspension systems, tires and many vehicle maintenance services.
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