Alpine Lace Reports 92% Earnings Increase in First Quarter.MAPLEWOOD, N.J.--(BUSINESS WIRE)--April 23, 1997--Alpine Lace Brands, Inc. (Nasdaq National Market: LACE), a leading marketer of nutritional cheeses and delicatessen meats, today announced net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the first quarter ended March 31, 1997 increased 4% to $33.7 million from $32.6 million in the first quarter of 1996. The company reported that net earnings for the first quarter of 1997 increased 92% to $759,747 or $.14 per share compared to $395,947 or $.07 per share in the first quarter of 1996. Commenting on the results, Carl T. Wolf, Chairman and Chief Executive Officer of Alpine Lace, said, "We are very pleased with the first quarter's numbers and particularly the improvement in the bottom line. The strong results reflect the increased margins we were able to achieve as cheese prices moderated from their historical highs in 1996." Wolf continued, "We recently launched Alpine Lace "Eating Smart" cheese gift baskets A gift basket, or fruit basket is typically a gift that is delivered to the recipient at their home or workplace. There are different varieties of gift baskets, some which have fruit only, some with dry/canned goods only (such as tea, crackers and jam) although the standard , which are available by mail order and premiered to Sky Mall Sky Mall is a catalog that is distributed to airline passengers generally in the seat pocket in front of their seat, that customers can order from using the on board airplane telephones or after leaving the aircraft. magazine's thirty million monthly readers. This initiative capitalizes on our strong brand name and provides a new distribution avenue for our quality product line. The past quarter saw Dakota Farms Cheese, Inc., our packaging subsidiary, gain its first outside contract to convert and package cheese products. This continues our commitment to pursuing operational and cost efficiencies and we look forward to additional outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. agreements in the future." Alpine Lace Brands, Inc. is a leading marketer of a full line of reduced fat and/or sodium and fat free cheeses and reduced fat and fat free delicatessen meats. Sold under the Alpine Lace. label, the Company's product line is carried by over 45,000 retail outlets retail outlet n → punto de venta retail outlet n → point m de vente retail outlet retail n → nationwide and its reduced fat Swiss cheese is the number one selling reduced fat deli Swiss in America's supermarkets. The Company's Dakota Farms Cheese, Inc. subsidiary converts and packages warehouse and club store cheeses along with dairy case sliced cheeses. Through MCT See Microsoft certification. Dairies, Inc., Alpine Lace engages in cheese and dairy product commodities trading. Matters discussed in this news release contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. The Company's results may differ significantly from the results indicated by forward-looking statements. No assurances can be given that the above forward-looking statements will prove to be accurate. These and other risks related to Alpine Lace Brands' business are addressed in the Company's SEC reports, including its annual reports on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and quarterly reports on form 10-Q Form 10-Q See 10-Q. .
ALPINE LACE BRANDS, INC.
Condensed Statements of Operations
Three Months Ended
March 31,
1997 1996
Net Sales $33,739,303 $32,550,994
Net Earnings $759,747 $395,947
Preferred Stock Dividends
and Earnings
Applicable to MCT
Dairies, Inc. Option $47,065 $42,188
Net Earnings Applicable
to Common $712,682 $353,759
Shareholders
Net Earnings Per Share $0.14 $0.07
Average Number of Common
Shares Outstanding 5,183,922 5,334,813
CONTACT: ALPINE LACE BRANDS, INC. Arthur Karmel, 201/378-8600 or MWW/STRATEGIC COMMUNICATIONS, INC. Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most - (201) 507-9500 Rob Swadosh (rswadosh@mww.com) Rich Tauberman (rtauberm@mww.com) |
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