Americold opens new warehouses; company announces second quarter financial results; sales increased 12.3%.PORTLAND Portland, town, England Portland, town (1991 pop. 12,945), Dorset, S England. It is on the Isle of Portland, a small rocky peninsula. Portland stone has been used in St. Paul's Cathedral and other important London buildings. Lobsters and crabs are harvested. , Ore.--(BUSINESS WIRE)--Sept. 14, 1995--Americold Corp., the nation's largest refrigerated re·frig·er·ate tr.v. re·frig·er·at·ed, re·frig·er·at·ing, re·frig·er·ates 1. To cool or chill (a substance). 2. To preserve (food) by chilling. warehousing and logistics company, has opened two new warehouse facilities. Its new 2.5 million cubic foot Pasco Pasco (păs`kō), city (1990 pop. 20,337), seat of Franklin co., SE Wash., on the Columbia River near its confluence with the Snake and Yakima rivers. It is a trade and shipping center for the Columbia basin project. , Wash. facility opened in late July July: see month. 1995. The warehouse is located immediately adjacent to a major processor's new vegetable processing plant. The second new facility is a 5.9 million cubic foot warehouse in Rochelle Ro`chelle´ n. 1. A seaport town in France. Rochelle powders Same as Seidlitz powders. Rochelle salt (Chem.) the double tartrate of sodium and potassium, a white crystalline substance. , Ill., opened in August 1995. The Rochelle facility is expected to be one of the nation's premier distribution warehouses, and the company anticipates expanding the Rochelle capacity in the near future to address the growth in its distribution and logistics business. Americold also announced that it is currently constructing a 2.2 million cubic foot facility in Grand Island, Neb. adjacent to a processor of frozen food service products. The warehouse is scheduled to open in November 1995. The company also released its second quarter and six months year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. financial results for the period ended August 31, 1995. Quarterly sales were approximately $59.9 million, up 12.3% over the prior year's sales of $53.3 million for the same period. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become from operations measured approximately $17.8 million, up 3.1% over the prior year's total of $17.2 million. The net loss for the quarter was approximately $5.5 million as compared to approximately $1.5 million for the prior year. Included in the net loss for the current quarter was approximately $4.0 million in one- time charges, net of tax, resulting primarily from the company's reorganization efforts which were completed during the second quarter. For the six months ended August 31, 1995, sales totaled approximately $113.0 million, up 10.8% over the prior year total of approximately $102.1 million. EBITDA from operations measured approximately $35.5 million, up 8.0% from approximately $32.9 million the prior year, and the net loss totaled approximately $9.0 million compared to the prior year net loss of approximately $4.2 million. The one-time charges resulting primarily from the reorganization efforts totaled approximately $6.1 million, net of tax, for the six-month period ended August 31, 1995. CONTACT: Lon Leneve, 503/624-8585 |
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