STERLING SHOES INCOME FUND ANNOUNCES THIRD QUARTER 2009 RESULTS
HIGHLIGHTS:
• Net bank debt improved to $0.9 million at December 31, 2009 from $11.8 million at September 30, 2009.
• Sales were $41.2 million in fourth quarter 2009 compared to $42.5 million in 2008
• Gross margin increased to 56.3% of sales in fourth quarter 2009, compared to 56.0% last year
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Annual Report:
2008200720062005
March 18, 2010
STERLING SHOES INCOME FUND MANAGEMENT'S DISCUSSION AND ANALYSIS
The following management's discussion and analysis (“MD&A") should be read in conjunction with the consolidated financial statements and accompanying notes ("Financial Statements") of Sterling Shoes Income Fund (the "Fund") for the year ended December 31, 2009. Results have been prepared in accordance with Canadian generally accepted accounting principles ("GAAP" and reported in Canadian dollars unless otherwise indicated). The fiscal year-end of the Fund is December 31.
March 18, 2010
CONSOLIDATED FINANCIAL STATEMENTS OF STERLING SHOES INCOME FUND DECEMBER 31, 2009 (EXPRESSED IN THOUSANDS OF DOLLARS)
March 18, 2010
STERLING SHOES INCOME FUND ANNUAL INFORMATION FORM FOR THE YEAR ENDED DECEMBER 31, 2009
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