Alpine Lace Brands annual meeting.MAPLEWOOD, N.J.--(BUSINESS WIRE)--May 17, 1996--Carl T. Wolf, chairman and chief executive officer of Alpine ALPINE Antihypertensive Treatment and Lipid Profile in a North of Sweden Efficacy Evaluation (drug trial) ALPINE Advanced Logistics Program Integration and Engineering Lace Brands Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : LACE) told shareholders at the company's annual meeting held May 16, in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , that the company expected to earn approximately $3.8 million pre-tax in 1996, or $.40 per share after taxes. Wolf said the earnings were calculated on the current historically high commodity cheese price of $1.49 per pound. "If the price of cheese had remained at its historic long term average price of $1.28, the company could have earned as much as $7 million pre-tax or $.74 a share after tax in 1996." Wolf added that he believed the price of cheese would eventually return to its historic average of approximately $1.28 per pound. "There is no question that farmers can make a profit with $1.28 cheese," he told shareholders. "I believe the $1.49 cost, which has hurt our margins, is an aberration which will be corrected in the long run." Wolf also told shareholders that the company legal counsel had recommended, and the board of directors determined, to pursue an appeal to the U.S. Court of Appeals for the Federal Circuit in Washington, regarding its patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. suit against Kraft. Alpine Lace Brands Inc. develops and markets a full line of reduced fat and sodium cheeses, a full line of fat free cheeses, Fat Free Turkey Breast and 97% Fat Free Ham all sold under the Alpine Lace(R) label. The company's primary product lines provide nutritionally superior cheese and meat products while meeting consumer demands concerning taste and product quality. Through its Marolf Dakota Farms Cheese Inc. subsidiary, the company converts and packages the company's warehouse and club store cheeses as well as dairy case sliced cheeses. In addition, through MCT See Microsoft certification. Dairies Inc., the company engages in the cheese and dairy products dairy products dairy npl → produits laitier dairy products dairy npl → Milchprodukte pl, Molkereiprodukte pl commodity trading business. CONTACT: Alpine Lace Brands Inc. Arthur Karmel, 201/378-8600 ext. 145 or KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Joseph A. Mansi/Adam Friedman 212/682-6300 ext. 205/215 |
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