Wild Oats Grows

"Wild Oats Markets, Inc. (NASDAQ:OATS), a leading national natural and organic foods retailer, today announced financial results for the first quarter ended March 31, 2007. Net of $3.5 million, or $0.12 per share, in transaction expenses related to the pending merger with Whole Foods Market, Inc. the Company generated a significant improvement in profitability. Excluding transaction expenses, earnings per share in the first quarter of 2007 were $0.17 compared to $0.10 in the first quarter of 2006, and adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA) increased 13.2 percent to $15.4 million from $13.6 million in last year’s first quarter. Reported net income on a GAAP basis for the first quarter of 2007, which includes the transaction costs, was $1.6 million, or $0.05 per share, and reported Adjusted EBITDA was $11.9 million in the first quarter of 2007.

"..We are very pleased with our growth in profitability in the first quarter, and with the top-line momentum we are establishing in 2007,” said Gregory Mays, Chairman and interim CEO of Wild Oats Markets. “The merchandising and marketing programs we put in place in the first quarter are gaining traction and are driving improvement in comparable store sales in the second quarter. We will continue to implement innovative merchandising and marketing programs, and focus on improved store-level operations to drive further sales gains and an improved customer experience."

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