Ben & Jerry's Homemade announces fourth quarter 1995 and 1995 year-end results.WATERBURY, Vt.--(BUSINESS WIRE)--Jan. 29, 1996--Robert Holland, president and chief executive officer of Ben & Jerry's Homemade home·made adj. 1. Made or prepared in the home: homemade pie. 2. Made by oneself. 3. Crudely or simply made. Adj. 1. 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 :BJICA), the Vermont-based superpremium ice cream and frozen yogurt yogurt: see fermented milk. yogurt Semisolid, fermented, often flavoured milk food. Yogurt is known and consumed in almost all parts of the world. manufacturer, today announced results for the year ended Dec. 30, 1995. 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 in the fourth quarter of 1995 totalled $32,788,000, an increase of 5.1 percent over 1994 fourth quarter sales of $31,193,000. Net income in the fourth quarter of 1995 was $859,000, compared to a net loss of $4,900,000 in the fourth quarter of 1994. Net income per common share in the 1995 fourth quarter was $0.12, compared to a net loss per common share of $0.69 in the fourth quarter of 1994. The company's net sales for all of 1995 totalled $155,333,000, compared to 1994 sales of $148,802,000, an increase of 4.4 percent. Net income for all of 1995 was $5,948,000, compared to a net loss of $1,869,000 in 1994. Net income per common share for 1995 was $0.83 compared to a net loss per common share of $0.26 for 1994. 1994 results included a fourth quarter after-tax writedown writedown A reduction in the value of an asset carried on a firm's financial statements. For example, the firm's accountants, believing the inventory is overvalued, may decide to take a writedown by reducing inventory valuation. of assets of $4.1 million or $0.57 per share in conjunction with the company's St. Albans, Vt. production facility. "We accomplished a lot in 1995," noted Holland. "We started production at our new facility in March 1995 and all of our production was brought under our control in September of 1995. We installed the second production line at that facility in the fourth quarter of 1995 which is currently in the startup phase. We improved our gross margins significantly and we strenghtened our senior management team. We have developed a line of sorbets that will reach the marketplace shortly, and these new products continue our tradition of innovation and excellent quality." Holland added, "As I said when I first came on board at Ben & Jerry's a year ago, `I don't want to "I Don't Want To"/"I Love Me Some Him" is the third single released from Toni Braxton's multiplatinum second album, Secrets. Written and produced by R. Kelly, this ballad describes the agony of a break-up. minimize the challenges we face.' That is still true. As we face a relatively mature domestic market in the superpremium category, we must market better and innovate in·no·vate v. in·no·vat·ed, in·no·vat·ing, in·no·vates v.tr. To begin or introduce (something new) for or as if for the first time. v.intr. To begin or introduce something new. more aggressively. In planning for expansion, we are struck by both the opportunities at home and the need to be cautious, but forward-thinking, in identifying and entering new markets abroad. In addition, we must continue to hone our planning and production skills to improve our results." Ben & Jerry's produces superpremium ice cream, ice cream novelties A novelty is a small manufactured adornment, especially a personal adornment. In this sense, the word is usually used in the plural, novelties. The word is also used to denote novelty item. , and lowfat and nonfat non·fat adj. Lacking fat solids or having the fat content removed. frozen yogurt using Vermont dairy products dairy products dairy npl → produits laitier dairy products dairy npl → Milchprodukte pl, Molkereiprodukte pl and high quality natural ingredients. The company also manufactures sorbets. Ben & Jerry's products are distributed nationwide in supermarkets, grocery stores, convenience stores The following is a list of convenience stores organized by geographical location. Stores are grouped by the lowest heading that contains all locales in which the brands have significant presence. , restaurants and other venues. The company franchises Ben & Jerry's scoop shops, including four in Canada. The company is also a joint partner in a production and scoop shop venture in Karelia, Russia; has a licensing agreement with an ice cream manufacturing and marketing company in Israel; and sells its products in the United Kingdom and France. -0-
Ben & Jerry's Homemade Inc.
Condensed Statements of Operations
(in thousands except per share data)
QUARTER ENDED YEAR ENDED
12/30/95 12/31/94 12/30/95 12/31/94
Net Sales $32,788 $31,193 $155,333 $148,802 Gross Profit 8,934 7,074 46,208 39,042 Selling, General & Administrative Exp. 7,762 9,369 36,362 36,253 Asset Write-down -- 6,779 -- 6,779 Other Income (Expense) (162) 284 (441) 229 Income (Loss) Before Income Tax 1,010 (8,790) 9,405 (3,761) Net Income (Loss) 859 (4,900) 5,948 (1,868) Weighted Avg. Number of Shares Outstanding 7,200 7,153 7,171 7,148 Net Inc. (Loss) per Common Share $0.12 ($0.69) $0.83 ($0.26) CONTACT: Ben & Jerry's Homemade Inc. Alan F. Parker, 802/244-6957 Ext. 2513 |
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