Ben & Jerry's Homemade announces third quarter results.WATERBURY, Vt.--(BUSINESS WIRE)--Nov. 2, 1995--Robert Holland, 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) today announced financial results for the company's 1995 third quarter. 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 quarter ended Sept. 30, 1995 were $45,405,000, an increase of one percent over $44,761,000 in the corresponding quarter of 1994. Net income for the quarter was $2,525,000, an increase of 78 percent over net income of $1,415,000 in the 1994 third quarter. Earnings per share in the third quarter of 1995 were $0.35, as compared to $0.20 in the third quarter of 1994. Through the first three quarters of 1995, net sales were $122,545,000, an increase of 4 percent over $117,609,000 for the comparable period in 1994. Net income through the period totaled $5,089,000, up 68 percent from $3,032,000 for the first three 1994 quarters. Net income per common share was $0.71, compared to $0.42 in the comparable 1994 reporting period. "We are pleased with these results," stated Holland. "We have continued to improve our gross margins over the course of 1995, with better operating efficiencies at our production facilities, including increased production levels at our newest plant in St. Albans, Vt." Holland noted that the company's production capacity with the addition of the St. Albans plant has allowed the scheduled termination of the company's co-packing agreement with Dreyer's Grand Ice Cream at Dreyer's plant in Fort Wayne Fort Wayne, city (1990 pop. 173,072), seat of Allen co., NE Ind., where the St. Joseph and St. Marys rivers join to form the Maumee River; inc. 1840. It is the second largest city in the state, a major railroad and shipping point, a wholesale and distribution hub, , Ind IND Investigational new drug Therapeutics A status assigned by the FDA to a drug before allowing its use in humans, exempting it from premarketing approval requirements so that experimental clinical trials may be conducted. See Phase 1.2, 3 studies, Sponsorship. . Holland added that, "In light of the highly competitive superpremium and premium ice cream and frozen dessert market, our revenue growth, while not strong, has been about what we expected in the short term. We are focused on improving internal operations and on strengthening our management team to position the company to increase its rate of growth in future periods. We will need to make investments in people to make this happen, and this process is well under way." 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 non-fat 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. using Vermont Vermont (vərmŏnt`) [Fr.,=green mountain], New England state of the NE United States. It is bordered by New Hampshire, across the Connecticut R. dairy products dairy products dairy npl → produits laitier dairy products dairy npl → Milchprodukte pl, Molkereiprodukte pl and high quality natural ingredients. 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.
BEN & JERRY'S HOMEMADE, INC.
CONDENSED STATEMENTS OF INCOME
(in thousands except per share data)
(unaudited)
Thirteen Weeks Ended Thirty-nine Weeks Ended
9/30/95 9/24/94 9/30/95 9/24/94
Net Sales $45,405 $44,761 $122,545 $117,609 Gross Profit 14,076 12,921 37,273 31,967 Operating Income 4,268 2,479 8,672 5,084 Other Income/Expense (129) (108) (277) (55) Income before Income Taxes 4,139 2,371 8,395 5,029 Net Income 2,525 1,415 5,089 3,032 Weighted Average Number of Shares Outstanding 7,177 7,151 7,157 7,147 Net Income per Common Share $0.35 $0.20 $0.71 $0.42 CONTACT: Ben & Jerry's Homemade Alan F. Parker, 802/244-6957 x2513 |
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