Rocky Mountain Chocolate Earnings Call Nuggets: Product Name and Strategy
Rocky Mountain Chocolate (NASDAQ:RMCF) recently reported its third quarter earnings and discussed the following topics in its earnings conference call.
James Fonda – Sidoti & Company: Did you guys give the name of the cereal company?
Franklin E. Crail – Chairman, President and CEO: We did not.
James Fonda – Sidoti & Company: Okay. Is there a reason for that or…?
Franklin E. Crail – Chairman, President and CEO: The only reason that we haven’t is that we’re coordinating a marketing press release when the product is launched. And so, we’ll announce the company when we do that.
James Fonda – Sidoti & Company: I guess, what is the anticipated growth of the store openings other than the Japanese franchises?
Franklin E. Crail – Chairman, President and CEO: Are you talking domestic standalone Rocky Mountain Chocolate Factory’s?
James Fonda – Sidoti & Company: Yeah…
Franklin E. Crail – Chairman, President and CEO: We see – we continue to see with this environment, maybe five to 10 stores opening annually.
George Whiteside – SWS Financial Services: My question relates to your having in effect created a roll-up vehicle. I presume that your motivation was twofold. Number one is to bulk up the frozen yogurt operation, where it would be a bigger factor in the marketplace; and the second was to gain access to an independent management team is that a fair assessment?
Franklin E. Crail – Chairman, President and CEO: I think that is a fair assessment, George. There was a number of other reasons that I outlined in the prepared remarks as well, but those two are correct.