Alpine Lace Brands reports first quarter results.MAPLEWOOD Maplewood. 1 Village (1990 pop. 30,954), Ramsey co., SE Minn., a growing residential suburb of St. Paul; inc. 1957. 2 City (1990 pop. 9,962), St. Louis co., E Mo., a suburb of St. Louis; settled 1825, inc. 1908. , N.J.--(BUSINESS WIRE)--April 23, 1996--Alpine 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) today reported results for the first quarter ended March 31, 1996. Net income for the quarter totaled $395,947 or $.07 per share, compared with income in the first quarter of 1995 of $1,028,117, or $.20 per share (utilizing a 6.7 percent effective tax rate, in the first quarter of 1995, due to prior years' tax loss carryforwards--on a proforma Proforma A financial projection based on assumptions. basis, applying a 38 percent tax rate, 1995 income would have been $683,207 or $.13 earnings per share). Sales for the quarter totaled $32,550,994, compared with sales of $32,446,320 in the 1995 first quarter. In announcing the results 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 said, "We were pleased to achieve our first quarter results despite historically high cheese prices." Alpine Lace Brands Inc. develops and markets a full line of low salt and low cholesterol cheeses, as well as a full line of fat free cheeses, all sold under the Alpine Lace(R) label. The company's primary product lines provide nutritionally superior cheese 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. -0-
ALPINE LACE BRANDS, INC.
Financial Highlights
Three Months Ended March 31,
1996 1995
Net Sales $32,550,994 $32,446,320 Net Earnings $ 395.947 $ 1,028,117(a) Earnings Per Share $.07 $.20(a) Average Number of Common Shares Outstanding 5,334,813 5,195,932
(a) Proforma--Applying a 38 percent tax rate, 1995 income would have
been $683,207 or $.13 earnings per share.
CONTACT: Alpine Lace Brands Inc., Maplewood 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 , 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 Joseph A. Mansi/Adam Friedman 212/682-6300, Ext. 205/215 REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-236-4266 or |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion