1st 9 Months: Revenues Up 9.2% to NIS 5.7B, Gross Profit Up 14.2%
to NIS 1.6B ROSH HA'AYIN, Israel, November 20
/PRNewswire-FirstCall/ -- Blue Square-Israel Ltd. (NYSE and TASE:
BSI) today announced unaudited results for the third quarter and
nine months ended September 30, 2008. NOTE: IFRS - International
Financial Reporting Standard Financial results for the three-month
and nine-month periods ended September 30, 2008 reported in this
release are presented in accordance with International Financial
Reporting Standards ("IFRS"). To facilitate comparison, the
comparison results from the three-month and nine-month periods
ended September 30, 2007, as well as those for the year ended
December 31, 2007, have been adjusted to bring them into accordance
with IFRS, and differ from the results originally reported. Tender
Offer for BSIP (Blue Square Chain Properties & Investments
Ltd.) Shares Completed and BSIP Delisted from the TASE After the
end of the quarter, the Company announced that it had successfully
completed the tender offer for BISP shares. The company purchased
all of BSIP shares held by the public (20%) for an aggregate
consideration of NIS 150.7 million. BSIP was delisted from the Tel
Aviv Stock Exchange (TASE) and is now held fully (100%) by the
Company. The Company believes this step will improve the Company's
decision-making agility and operating efficiency, and that it will
increase the Company's earnings per share for the benefit of
shareholder value. For additional information, please refer to the
Company's Immediate Report and SEC filings. Results for the Third
Quarter Revenues: Revenues for the third quarter increased by 6.2%
to NIS 1,936.2 million (U.S. $566.0 million)(a) compared to NIS
1,823.5 million in the third quarter of 2007. The increase
reflected the addition of approximately 17,000 square meters of
selling space through the opening of 12 new supermarkets during the
twelve month period; the success of the Mega In Town format, and
the ongoing expansion of Bee Group Retail ("Bee Group") (formerly
Kfar Ha'Shaashuim), including the consolidation of the revenues of
Naaman Porcelain Ltd. (TASE:NAMN) ("Naaman") since the fourth
quarter of 2007. During the third quarter, the Company's Same Store
Sales increased by 0.6% as compared on a year-over-year basis with
the third quarter of 2007. This relatively minor increase derived
from the combination of the growth in revenues of the Mega In Town
format and the decrease of revenues of the Shefa Shuk format. Gross
Profit: Gross profit for the third quarter increased by 12.2% to
NIS 538.8 million (U.S. $157.5 million) compared to NIS 480.2
million in the third quarter of 2007. Gross margin for the period
increased to 27.8% compared to 26.3% in the parallel quarter of
2007, reflecting improved agreements with suppliers; the success of
the Mega In Town format; the reduction in the proportion of hard
discount sales; and the higher gross margin of Bee Group Retail.
Selling, General, and Administrative Expenses: Selling, General,
and Administrative expenses for the quarter increased by 16.5% to
NIS 478.8 million (U.S. $140.0 million) compared to NIS 411.1
million in the third quarter of 2007. The increase reflects the
expenses of opening 12 new stores during the previous 12 months and
the operating expenses of Naaman, whose results were consolidated
into the Company's financial reports for the first time in the
fourth quarter of 2007. Other Income (Expenses): The Company
recorded other income of NIS 11.8 million (U.S. $3.5 million)
during the third quarter. This reflected a capital gain taken in
relation to the reorganization of several of the Company's non-food
holdings by Bee Group, the company through which Blue Square
manages its non-food retail operations. Operating Income: Operating
income for the third quarter increased by 6.5% to NIS 71.1 million
(U.S. $20.8 million) from NIS 66.7 million in the third quarter of
2007. Operating margin for the period was 3.7%, unchanged as
compared to the third quarter of 2007. This reflects the period's
increased revenues, mitigated partially by the Company's activities
to accelerate the expansion of Eden Teva Market and to build the
Bee Group's new format for babies and infants (the Dr. Baby chain).
EBITDA (Earnings before Interest, Taxes, Depreciation, and
Amortization) : EBITDA for the quarter was NIS 104.3 million (U.S.
$30.5 million) compared to NIS 103.6 million in the third quarter
of 2007. EBITDA margin for the period was 5.4% compared to 5.7% in
the third quarter of 2007. Financial Expenses (net): Financial
expenses (net) for the quarter were NIS 50.1 million (U.S. $14.7
million) compared to financial income (net) of NIS 1.9 million in
the third quarter of 2007. Financial expenses were impacted by the
decrease in the value of financial instruments as measured by the
Fair Value method, whose changes in value were recorded as a
financial expense of NIS 7.0 million (U.S. $2.0 million ) in the
third quarter of 2008. This compared to financial income of NIS
26.0 million recorded in the parallel quarter of 2007. In addition,
the Company's total financial debt was significantly higher at the
end of the third quarter of 2008 as compared to its balance at the
end of the third quarter of 2007. Taxes on Income: Taxes on income
for the quarter were NIS 8.9 million (U.S. $2.6 million), an
increase of 85.4% compared to NIS 4.8 million in the third quarter
of 2007, resulting in an effective tax rate of 42.7% compared to
7.0% in the parallel quarter of 2007. This reflected the Company's
adoption of the IFRS, under which the Company did not record tax
liability or benefits from the revaluation of its financial
instruments to Fair Value. During the third quarter of 2008, the
Company recorded financial expenses, while in the parallel period
of 2007, it recorded financial income. The effect was mitigated
partially by the decrease in the Israeli corporate tax rate from
29% in 2007 to 27% in 2008. Net Income: Net income for the third
quarter of 2008 was NIS 12.0 million (U.S. $3.5 million) compared
to NIS 63.6 million in the third quarter of 2007. The portion of
the net profit attributable to shareholders, as calculated in
accordance with the IFRS, was NIS 6.5 million (U.S. $1.9 million),
or NIS 0.15 per ADS (U.S. $0.04), while the portion attributable to
the share of minority interests was NIS 5.5 million (U.S. $1.6
million). The reduction in net income derived primarily from the
increase in the Company's financing expenses, as explained above.
Dividend During the third quarter, the Company declared a cash
dividend of NIS 150.0 million. Following the dividend declaration,
on September 25, 2008 the conversion ratio of 5.9% convertible
debentures issued in August 2003 was adjusted, making each NIS
20.095 par value of convertible debentures convertible into one
ordinary share of the Company. The dividend was distributed on
October 7, 2008. Recent Strategic Progress: - Mega Bool - Blue
Square's New Hard Discount Format: on October 28th, the Company
announced that it would launch "Mega Bool", a new hard discount
supermarket format, during December 2008. Preparations for Mega
Bool include the conversion of 36-38 existing Mega and Shefa Shuk
stores of various sizes, representing approximately 120,000 square
meters (approximately one third of the Company's supermarket
floorspace). - Private Label: The Company plans to launch an
extensive line of private label goods in December 2008, and intends
to expand it to an even broader variety of products in the future.
- Eden Teva (organic and health food markets): With the goal of
establishing Blue Square as the clear leader of Israel's emerging
organic/health food sector, during the quarter, the Company opened
two additional Eden Teva supermarkets, doubling the chain's selling
space to approximately 6,200 square meters. The Company plans to
expand the chain to approximately 10 stores nationwide over the
next two years. - Bee Group (non-food retailing): During the third
quarter, the Company announced that it had increased its holdings
in Bee Group to 85%, and that it had obtained an option to acquire
full control of Bee Group. Management views Bee Group as a growth
engine for the Company, and the acquisition as a major step in the
continuing implementation of its plan to be a major player in
Israel's non-food sector. Results for the First Nine Months
Revenues: The Company's revenues for the first nine months of 2008
increased by 9.2% to NIS 5,675.8 million (U.S. $1,659.1 million)
(a) compared to NIS 5,197.8 million in the first nine months of
2007. The increase reflects: 1) the addition of approximately
17,000 square meters of selling space through the opening of 12 new
supermarkets during the twelve month period; 2) the period's 3.1%
increase in Same Store Sales; and 3) the ongoing expansion of Bee
Group since the fourth quarter of 2007. Gross Profit: Gross profit
for the first nine months increased by 14.2% to NIS 1,569.9 million
(U.S. $458.9 million) compared to NIS 1,375.0 million in the first
nine months of 2007. Gross margin for the period increased to 27.7%
compared to 26.5% in the parallel period of 2007, reflecting the
factors detailed above. Selling, General, and Administrative
Expenses: Selling, General, and Administrative expenses for the
first nine months of 2008 increased by 17.1% to NIS 1,348.9 million
(U.S. $394.3 million) compared to NIS 1,151.6 million in the first
nine months of 2007. The increase reflects the operation expenses
of opening 12 new stores during the previous 12 months; the
operating expenses of Naaman, whose results were consolidated into
the Company's financial reports for the first time in the fourth
quarter of 2007; and an increase in the operating expenses of
existing branches due to the rising costs of electricity and
expenses linked to Israel's CPI, such as rent and municipal taxes.
Other Income (Expenses): The Company recorded other income of NIS
12.5 million (U.S. $3.6 million) during the first nine months of
2008. This reflected a capital gain taken in relation to the merger
of several of the Company's non-food holdings into the Bee Group,
the company through which Blue Square manages its non-food retail
operations. Revaluation of Investment Property: In compliance with
the IFRS Accounting Standard, the Company now adjusts the value of
its investment property on a quarterly basis in accordance with
Fair Market Value. In the first nine months of 2008, the Company's
revaluation of three assets resulted in non-cash income of NIS 18.0
million (U.S. $5.3 million). Operating Income: Operating income for
the first nine months of 2008 increased by 12.3% to NIS 248.3
million (U.S. $72.6 million) from NIS 221.1 million in the first
nine months of 2007. The increase reflects the factors described
above. Operating margin for the period increased to 4.4% from 4.3%
in the first nine months of 2007. Excluding the income derived from
other income (primarily capital gains), the revaluation of
investment property and non-cash expenses related to employee
stock-based compensation, operating margin for the first nine
months of 2008 was 4.0%. EBITDA (Earnings before Interest, Taxes,
Depreciation, and Amortization): EBITDA for the first nine months
of 2008 increased by 5.1% to NIS 344.3 million (U.S. $100.7
million) compared to NIS 328.0 million in the first nine months of
2007. EBITDA margin for the period was 6.1% compared to 6.3% in the
parallel period of 2007. Financial Expenses (net): Financial
expenses (net) for the first nine months of 2008 were NIS 98.6
million (U.S. $28.8 million) compared to NIS 69.5 million in the
first nine months of 2007. This increase derived primarily from the
period's 5.0% increase in the "Known" price index, compared to its
2.8% increase in the parallel period of 2007. In addition, it
reflects the increase in net financial debt compared to the first
nine months of 2007, which contributed to an increase of NIS 97
million in financial expenses for the first nine months of 2008
compared to NIS 45 million in the parallel period of 2007. This was
mitigated partially by financial income of NIS 7 million related to
the revaluation of the Company's financial instruments during the
reporting period, as compared to NIS 25 million of financial
expenses in the parallel period of 2007. Taxes on Income: Taxes on
income for the first nine months of 2008 were NIS 35.4 million
(U.S. $10.3 million), a decrease of 24.0% compared to NIS 46.6
million in the first nine months of 2007, resulting in an effective
tax rate of 23.7% compared to 30.7% for the first nine months of
2007. This reduction reflected: 1) The Company's adoption of the
IFRS, under which the Company did not record tax liability or
benefits from the revaluation of its financial instruments to Fair
Value. During the first nine months of 2008, the Company recorded
financial income, while in the parallel period of 2007, it recorded
financial expenses. 2) The period's 5.0% increase in the CPI and
its affect on the Company's taxable income and loans in light of
Amendment #20 to the Income Tax Law (Adjustments for Inflation),
which was enacted on February 26, 2008. Amendment #20, which is to
be applied beginning in the 2008 tax year, discontinues the
adjustment of income and assets according to inflation when
computing tax liability. 3) The change in Israeli corporate tax
rate from 29% in 2007 to 27% in 2008. Net Income: Net income for
the first nine months of 2008 was NIS 114.3 million (U.S. $33.4
million), an increase of 8.8% compared to NIS 105.0 million for the
first nine months of 2007. The portion of the net profit
attributable to shareholders, as calculated in accordance with the
IFRS, was NIS 94.1 million (U.S. $27.5 million), or NIS 2.17 per
ADS (U.S. $0.63), while the portion attributable to the share of
minority interests was NIS 20.1 million (U.S. $5.9 million).
Comments of Management Commenting on the results, Mr. Zeev
Vurembrand, Blue Square's President and CEO said, "The third
quarter was a period of major strategic progress during which we
brought together our multi-year strategy, securing Blue Square's
early lead of the emerging organic sector, and, through the
expansion of our holdings in Bee Group Retail, establishing Blue
Square as one of Israel's strongest players in the non-food arena.
Our financial results reflect the investments we have been making
to actualize these plans according to an accelerated schedule.
During the third quarter alone, we doubled the size of our Eden
Teva organic chain, and perfected our plan for the concept and
fourth quarter launch of our unique new 'Mega Bool' hard-discount
chain, which will include about 120,000 square meters, or
approximately one third of our supermarket floorspace.
Structurally, we extended our control of Bee Group Retail and
concluded the process of delisting BSIP, steps that will streamline
our decision-making processes and maximize our flexibility in
rapidly changing markets." Mr. Vurembrand continued, "Each of these
investments is an important component within a comprehensive plan
aimed at securing our competitive positioning over the long-term.
Although the increased expenses have impacted our short-term
profitability, we believe that they will repay us in the future. We
look forward to reporting our progress in the quarters ahead." NOTE
A: Convenience Translation to Dollars The convenience translation
of New Israeli Shekel (NIS) into U.S. dollars was made at the rate
of exchange prevailing at September 30, 2008: U.S. $1.00 equals NIS
3.421. The translation was made solely for the convenience of the
reader. Blue Square is a leading retailer in Israel. A pioneer of
modern food retailing in the region, Blue Square currently operates
194 supermarkets under different formats, each offering varying
levels of service and pricing. This press release may contain
forward-looking statements, within the meaning of the Private
Securities Litigation Reform Act of 1995, with respect to the
Company's business, financial condition, prospects and operating
results. These statements are based on current expectations and
projections that involve a number of risks and uncertainties.
Actual results could differ materially from those anticipated in
these forward-looking statements as a result of various factors,
including risk of market acceptance, the effect of economic
conditions, the impact of competitive pricing, supply constraints,
the effect of the Company's accounting policies, as well as certain
other risks and uncertainties which are detailed in the Company's
Annual Report on Form 20-F and other filings with the Security and
Exchange Commission. Forward-looking statements speak only as of
the date on which they are made and the Company undertakes no
commitment to revise or update any forward-looking statement in
order to reflect events or circumstances after the date any such
statement is made. BLUE SQUARE - ISRAEL LTD. INTERIM CONSOLIDATED
BALANCE SHEET AS OF SEPTEMBER 30, 2008 Convenience translation
September December 31, September 30, 30, _____________________ 2007
2007 2008 2008 ____________ _________ ___________ ____________
(Audited) (Unaudited) ____________
____________________________________ NIS U.S. dollars
_________________________________ _______________ In thousands
_________________________________________________ A s s e t s
CURRENT ASSETS: Cash and cash equivalents 56,410 459,248 313,738
91,709 Marketable securities 199,394 146,161 176,964 51,729
Short-term bank deposit 103,498 201,502 650 190 Trade receivables
776,251 795,535 896,191 261,968 Other accounts receivable 99,841
200,104 408,558 119,427 Income taxes receivable 23,062 27,109
67,339 19,684 Inventories 453,944 453,832 511,755 149,592 _________
_________ _________ _______ Total current assets 1,712,400
2,283,491 2,375,195 694,299 _________ _________ _________ _______
NON-CURRENT ASSETS: Associated companies 4,948 4,899 4,930 1,441
Embedded derivative 10,500 - 850 248 Prepaid expenses in respect of
operating lease 199,679 201,177 195,186 57,055 Other long-term
receivables 48,289 2,373 4,158 1,215 Property, plant and equipment,
net of accumulated depreciation and amortization 1,613,515
1,541,089 1,673,245 489,110 Investment property 315,778 302,487
409,297 119,643 Intangible assets and deferred charges, net of
accumulated amortization 280,420 120,310 345,116 100,882 Deferred
taxes 33,542 32,560 36,695 11,019 Total non-current _________
_________ _________ _______ assets 2,506,671 2,204,895 2,669,477
780,613 _________ _________ _________ _______ Total assets
4,219,071 4,488,386 5,044,672 1,474,912 ========= =========
========= ========= BLUE SQUARE - ISRAEL LTD. INTERIM CONSOLIDATED
BALANCE SHEET AS OF SEPTEMBER 30, 2008 Convenience translation
September December 31, September 30, 30, _____________________ 2007
2007 2008 2008 ____________ _________ ___________ ____________
(Audited) (Unaudited) ____________
____________________________________ NIS U.S. dollars
_________________________________ _______________ In thousands
_________________________________________________ Liabilities and
shareholders' equity CURRENT LIABILITIES: Credit and loans from
banks and others 171,010 131,458 213,739 62,479 Current maturities
of debentures and convertible debentures 69,859 69,841 21,501 6,285
Trade payables 976,278 1,124,377 1,197,281 349,980 Other accounts
payable and accrued expenses 444,912 536,352 650,136 190,043 Income
taxes payable 2,905 1,124 5,846 1,709 Dividend payable - 260,000
150,000 43,847 Total current _________ _________ _________ _______
liabilities 1,664,964 2,123,152 2,238,503 654,343 _________
_________ __________ _______ NON CURRENT LIABILITIES: Long-term
loans from banks, net of current maturities 248,488 203,044 340,614
99,566 Convertible debentures, net of current maturities 169,897
175,465 134,320 39,263 Debentures, net of current maturities
772,827 772,146 1,009,180 294,996 Other liabilities 11,646 9,475
34,218 10,002 Derivatives instruments 9,968 7,407 6,316 1,846
Liabilities for employee rights, net of amount funded 35,986 33,063
39,125 12,606 Deferred taxes 57,615 40,392 54,864 16,037 Total
long-term _________ _________ _________ _______ liabilities
1,306,427 1,240,992 1,618,637 474,316 _________ _________ _________
_______ Total liabilities 2,971,391 3,364,144 3,857,140 1,129,243
_________ _________ _________ _________ SHAREHOLDERS' EQUITY:
Equity attributable to equity holders of the Company: Ordinary
shares 57,094 57,094 57,094 16,689 Additional paid-in capital
1,018,405 1,018,405 1,018,405 297,692 Other reserves 1,415 79 1,176
344 Accumulated deficit (107,262) (167,975) (161,407) (48,058)
_________ _________ _________ ________ 969,652 907,603 915,268
266,667 Minority interest 278,028 216,639 272,264 79,586 _________
_________ _________ ________ Total equity 1,247,680 1,124,242
1,187,532 346,253 __________ __________ __________ ________ Total
liabilities and shareholder's equity 4,219,071 4,488,386 5,044,672
1,474,912 ========== ========== ========== ========== BLUE SQUARE -
ISRAEL LTD. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE
NINE AND THREE MONTHS PERIODS ENDED SEPTEMBER 30, 2008 BLUE SQUARE
- ISRAEL LTD. Year ended For the nine months December ended
September 30 31 ____________________ 2007 2007 2008 ___________
_________ _________ (Audited) (Unaudited) ___________
____________________ NIS __________________________________ In
thousands (except share and per share data)
_______________________________________________ Sales 6,981,984
5,197,837 5,675,797 Cost of sales 5,129,578 3,822,798 4,105,935
__________ _________ _________ Gross profit 1,852,406 1,375,039
1,569,862 Selling, general and administrative expenses 1,563,208
1,151,625 1,348,865 __________ _________ _________ Operating profit
before net gain from adjustment of investment property to fair
value and other expenses and income 289,198 223,414 220,997 Other
income 15,835 618 12,458 Other expenses 12,775 2,971 3,160 Net gain
from adjustment of investment property to fair value 10,456 -
17,970 ________ _______ ________ Operating profit 302,734 221,061
248,265 Finance income 50,279 43,392 41,651 Finance expenses
107,598 112,935 140,214 Share in profit (losses) of associated
companies, net 186 137 (18) ________ ________ _________ Income
before taxes on income 245,601 151,655 149,684 Taxes on income
69,779 46,615 35,415 ________ ________ _________ Net income for the
period 175,822 105,040 114,269 ======== ======== =========
Attributable to: Equity holders of the parent 143,628 82,486 94,149
________ ________ _________ Minority interests 32,194 22,554 20,120
________ ________ _________ Net income per Ordinary share
attributed to Company shareholder's or ADS: Basic 3.39 1.96 2.17
________ ________ _________ Fully diluted 3.39 1.96 1.85 ________
________ _________ Weighted average number of shares or ADS used
for computation of income per share: Basic 42,355,339 42,012,451
43,372,819 __________ __________ ____________ Fully diluted
42,355,339 42,012,451 45,037,693 __________ __________ ____________
BLUE SQUARE - ISRAEL LTD. CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS FOR THE NINE AND THREE MONTHS PERIODS ENDED SEPTEMBER
30, 2008 BLUE SQUARE - ISRAEL LTD. cont. Convenience translation(a)
for the For the three three months months ended ended September 30
September 30 ____________________ 2007 2008 2008 _________
_________ _____________ (Unaudited) ____________________ NIS U.S.
dollars ____________________ _____________ In thousands (except
share and per share data) Sales 1,823,522 1,936,236 565,985 Cost of
sales 1,343,356 1,397,451 408,492 __________ __________ _________
Gross profit 480,166 538,785 157,493 Selling, general and
administrative expenses 411,103 478,815 139,963 __________
__________ _________ Operating profit before net gain from
adjustment of investment property to fair value and other expenses
and income 69,063 59,970 17,530 Other income 273 11,841 3,461 Other
expenses 2,601 734 214 Net gain from adjustment of investment
property to fair value - - - _________ _______ _________ Operating
profit 66,735 71,078 20,777 Finance income 40,360 10,738 3,139
Finance expenses 38,433 60,874 17,794 Share in profit (losses) of
associated companies, net (262) (1) - __________ ________ _________
Income before taxes on income 68,400 20,940 6,122 Taxes on income
4,767 8,941 2,614 __________ ________ _________ Net income for the
period 63,633 11,999 3,508 ========== ======== =========
Attributable to: Equity holders of the parent 57,351 6,536 1,911
__________ ________ _________ Minority interests 6,282 5,463 1,597
__________ ________ _________ Net income per Ordinary share
attributed to Company shareholder's or ADS: Basic 1.32 0.15 0.04
_________ ________ _________ Fully diluted 0.66 0.15 0.04 _________
________ _________ Weighted average number of shares or ADS used
for computation of income per share: Basic 43,362,460 43,372,819
43,372,819 __________ __________ __________ Fully diluted
44,988,066 43,372,819 43,372,819 __________ __________ __________
BLUE SQUARE - ISRAEL LTD. SELECTED OPERATING DATA FOR THE NINE
MONTH AND THREE MONTH PERIOD ENDED SEPTEMBER 30, 2008 (UNAUDITED)
Convenience translation(a) For the nine For the three for the three
months ended months ended months ended September 30 September 30
September 30 _______________ _______________ _______________ 2007
2008 2007 2008 2008 NIS NIS NIS NIS U.S.$ _______ _______ _______
_______ _______________ (Unaudited) (Unaudited)
_______________________________________________ Sales (in millions)
5,198 5,676 1,936 1,824 566 Operating profit (in millions) 221 248
67 71 21 EBITDA (in millions) 328 344 104 104 31 EBITDA margin 6.3%
6.1% 5.7% 5.4% 5.4% Increase (decrease) in 0.0% 3.1% 0.8% 0.6% NA
same store sales* Number of stores at end of period 182 194 182 194
NA Stores opened during the period 7 9 2 4 NA Stores closed during
the period - - - - NA Total square meters at end of period 339,280
356,268 339,280 356,268 NA Square meters added during the period,
net 15,980 12,918 5,650 5,375 NA Sales per square meter 14,929
15,234 5,112 5,015 1,466 Sales per employee (in 702 724 235 235 69
thousands) * Compared with the same period in the prior fiscal
year. Contact: Blue Square-Israel Ltd. Dror Moran, CFO Toll-free
telephone from U.S. and Canada: 888-572-4698 Telephone from rest of
world: +972-3-928-2220 Fax: +972-3-928-2299 Email: DATASOURCE: Blue
Square Israel Ltd CONTACT: Contact: Blue Square-Israel Ltd., Dror
Moran, CFO, Toll-free telephone from U.S. and Canada: 888-572-4698,
Telephone from rest of world: +972-3-928-2220, Fax:
+972-3-928-2299, Email:
Copyright