Chock full o'Nuts reports significantly improved third quarter operating results.NEW YORK--(BUSINESS WIRE)--June 7, 1995--Chock full o'Nuts Corp. (NYSE NYSE See: New York Stock Exchange :CHF CHF In currencies, this is the abbreviation for the Swiss Franc. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) today reported net income of $1,414,000 or $0.14 per share for the three months ended April 30, 1995, compared with a loss of $270,000 or $0.03 per share in the comparable quarter of the prior year. Net income for the nine months ended April 30, 1995 was $3,651,000 or $0.35 per share compared with $413,000 or $0.04 per share in the comparable period of the prior year after excluding a $7,068,000 or $0.67 per share gain on the sale of the company's specialty coffee operations. 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 were $81,005,000 and $246,281,000 for the three and nine months ended April 30, 1995, respectively, compared to $61,467,000 and $194,511,000 in the year ago periods. Marvin Haas, president and chief executive officer stated, "This quarter's results continue the positive trend of fiscal 1995 and reflect the success of our cost containment cost containment, n the features of a dental benefits program or of the administration of the program designed to reduce or eliminate certain charges to the plan. program initiated two years ago. All divisions continue to show improvement." Chock full o' Nuts roasts, packs and markets regular, instant and decaffeinated coffees Noun 1. decaffeinated coffee - coffee with the caffeine removed decaf coffee, java - a beverage consisting of an infusion of ground coffee beans; "he ordered a cup of coffee" under the Chock full o' Nuts label. Its best-known coffee product is its premium, vacuum-packed, all-method grind coffee. The company is also one of the largest marketers of food service and private label coffee, teas and related products. Chock also operates cafes in the New York metropolitan area New York–Northern New Jersey–Long Island is the most populous metropolitan area in the United States and the third most populous in the world, after Tokyo and Mexico City. and a double drive-thru coffee chain -- Quikava -- in the New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. market. -0-
Chock full o'Nuts Corporation
Summary of Financial Information
Three Months Ended
April 30
1995 1994
Net sales $81,005,000 $61,467,000 Net income/(loss) $ 1,414,000 $ (270,000) Earnings per share Primary $ 0.14 $ (0.03) Fully diluted(c) $ 0.12 $ (0.03)
Nine Months Ended
April 30
1995 1994(b)
Net sales $246,281,000 $194,511,000 Income before sale of specialty coffee operations $ 3,651,000 $ 413,000 Net income $ 3,651,000 $ 7,480,000(a) Net income per share Primary $ 0.35 $ 0.71(a) Fully diluted(c) $ 0.33 $ 0.50 -0-
(a) Includes in the nine months ended April 30, 1994, reported
gain on the sale of specialty coffee operations after
income taxes, of $7,068,000 ($0.67 per share).
(b) Includes in the nine months ended April 30, 1994, net sales
($9,557,000), net income ($1,093,000) and earnings per
share ($0.10) of the specialty coffee product line sold in
November 1993.
(c) Assuming conversion of outstanding debentures.
CONTACT: Chock full o'Nuts Chock full o'Nuts was a hugely popular chain of lunch counters in New York City that spawned a brand of coffee. The chain was founded by William Black (1903-1983), a Russian immigrant who sold nuts in Times Square to theatre-goers on the discount ticket line. Corp., 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 Howard Leitner, 212/532-0300 or G.A. Kraut kraut n. 1. Sauerkraut. 2. often Kraut Offensive Slang Used as a disparaging term for a German. [German; see sauerkraut.] Noun 1. Company Inc., New York Cynthia A. Bond, 212/696-5600 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion