Bev Tyme annual sales up 30%, EPS at -$.94.BROOKLYN, N.Y.--(BUSINESS WIRE)--May 1, 1996--Bev Tyme Inc. today reported annual 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 1995 of $12,730,722 compared with $9,773,013 in 1994. The net loss for the year was $3,775,882 as compared with $1,157,297 in 1994 or a loss of 94 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. compared with a loss of 34 cents per share. The company's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Mootch & Muck Inc. accounted for more than 99% of all sales in all periods. Commenting on the results, Robert J. Sipper, president and chief executive officer said "Bev Tyme's sales increase of 30% was an encouraging sign for the future. Sales continued to grow in Manhattan, our core market." Of the loss in 1995, Sipper added "52% or $1,997,792 was related to non-operating, non-recurring expenses, such as amortization of goodwill and financing costs and costs related to issuance of stock. The company has taken significant steps to promote growth and reduce costs in the future by reevaluating overhead and increasing sales. Our recent expansion and appointment as the exclusive City Club Soda distributor will enable us to increase sales in Brooklyn, Queens, the Bronx, upper Manhattan Upper Manhattan denotes the more northerly region of the New York City Borough of Manhattan. Its southern boundary may be defined anywhere between 59th Street and 155th Street. and Staten Island." Bev Tyme Inc. distributes and markets beverages, beers and snack items through its wholly owned subsidiary, Mootch & Muck Inc. in the New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. metropolitan area. Bev Tyme is traded on The Nasdaq Small Cap market using the symbols BEVTP for preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. , BEVT for common stock and BEVTZ for preferred warrants. CONTACT: Bev Tyme Inc. Robert Sipper, 718/894-4300 |
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