Brick Reports 4th Quarter Results

[Nnejad]

Fourth Quarter 2009 Summary:

 

    -  Consolidated sales and operating revenue of $361.4 million

 

    -  EBITDA of $30.8 million is the Brick Group's highest reported

        quarterly EBITDA in its history

 

    -  Net income of $12.2 million or $15.3 million before $2.8 million in

        amortization of warrant issuance costs, related to the Fairfax letter

        of credit facility, valued using the binomial option pricing model

        and severance costs

 

    -  $69.2 million Asset Based Credit Facility undrawn and available at

        December 31, 2009

 

    -  $19.5 million cash and cash equivalents at December 31, 2009

 

    -  $72.3 million reduction in accounts payable and accrued liabilities

        from December 31, 2008

 

    -  Corporate same store sales growth of 4.9% in December 2009, and

        preliminary corporate same store sales growth of 4.2% in January and

        5.2% in February 2010

 

Historically, 4th quarter is about 28% of sales.