Artisanal Premium Cheese Achieves Positive EBITDA in Third Quarter.Company Signs Up 9 Specialty Retail Stores In Recently Launched Retail Strategy 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 -- American Home For the American mortgage lender, see . The American Home is a center of intercultural exchange located in Vladimir, Russia. The home is designed to model a typical American suburban home and its main focus is the ESL school that provides lessons for Russian students. Food Products (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AHFP AHFP Associate Human Factors Professional AHFP Army Health Fitness Program (US Army) ), currently doing business as Artisanal Premium Cheese, today announced results for the third quarter and nine months ended February 28, 2009. For the nine months ended February 28, 2009, revenues increased 23% to $4.6 million from $3.8 million in the same period of 2008. For the third quarter ended February 28, 2009, the Company reported revenues of $2.2 compared to revenues of $2.4 million in the quarter ended February 28, 2008. Gross margin increased slightly to 32.9% in the third quarter of fiscal 2009 as compared to 32.2% in the third quarter of fiscal 2008. Earnings Before Interest, Taxes, Depreciation and Amortization Earnings before interest, taxes, depreciation and amortization (EBITDA) is a non-GAAP metric that can be used to evaluate a company's profitability.
Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. dividend of $174,639. Daniel W. Dowe, President and Chief Executive Officer of Artisanal commented, "We are very pleased to report positive EBITDA for the quarter, providing a solid underpinning for our new retail growth strategy which we launched in February. Artisanal Premium Cheeses are affordable luxuries and we believe there is a tremendous opportunity to attract additional loyal customers by increasing their availability in the retail marketplace. We have already signed up 9 specialty retail establishments and anticipate adding several locations per week moving forward as we look to penetrate the $35 billion specialty and upscale supermarket sector where specialty cheeses are growing significantly." "In support of our ongoing efforts, subsequent to the close of the quarter, we announced that Artisanal has secured a credit facility with Summit Financial Resources. We are especially pleased that Summit saw the viability of our business plan and believe that securing this credit facility, particularly in this difficult economic environment, is a true testament to the strength of our company and its prospects," Mr. Dowe concluded. About Artisanal Premium Cheese In August 2007 American Home Food Products, Inc. acquired 100% of the ownership interests in Artisanal Premium Cheese. The Company operates in the specialty cheese market in the United States. The company markets and distributes a line of specialty, artisanal and farmstead cheese products, as well as other related specialty food products under its own brand to food wholesalers and retailers, as well as directly to consumers through its catalogue and Web site, artisanalcheese.com. American Home Food Products, Inc. is based in New York, New York. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement: Forward-looking statements made in this press release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements are based on current management expectations that involve risks and uncertainties that may result in such expectations not being realized. Potential risks and uncertainties include, but are not limited to, the risks described in Company filings made with the Securities and Exchange Commission. |
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