Coastal Foods reports year end results.HOUSTON--(BUSINESS WIRE)--April 21, 1997--Coastal Foods 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 :BB:XPIE) announced today results for the fourth quarter and year ended Dec. 31, 1996. 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 totaled $4,040,693. The company reported a loss of ($232,733), for the fourth quarter ended Dec. 31, 1996. For the year ended Dec. 31, 1996, net sales totaled $10,279,084, compared with $7,081,603 reported for the year ended Dec. 31, 1995. Net income for the year totaled $132,768, or $0.03, compared with a loss of $606,830, or ($0.14) per share for the year ended Dec. 31, 1995. There were 4,662,011 and 4,470,322 average number of common shares outstanding for the years ended 1996 and 1995, respectively. Coastal Foods Inc. is a specialty baking baking: see cooking. baking Process of cooking by dry heat, especially in an oven. Baked products include bread, cookies, pies, and pastries. company providing a variety of products to such national brand name marketers as Campbell Campbell, city, United States Campbell, city (1990 pop. 36,048), Santa Clara co., W Calif., in the fertile Santa Clara valley; founded 1885, inc. 1952. Soup, KFC KFC Kentucky Fried Chicken (restaurant chain) KFC Kenya Flower Council KFC Kitchen Fresh Chicken (Kentucky Fried Chicken motto) KFC Kung Fu Cult (Cinema) KFC Kitchen Fixed Charge , Pepperidge Farm Pepperidge Farm was founded in 1937 by Margaret Rudkin, who named the brand for a property her family owned in Connecticut (which itself was named for the pepperidge tree, Nyssa sylvatica). In 1961, the company was purchased by Campbell's. , Albertson's, and Shoney's. -0-
Coastal Foods Inc.
Financial Highlights
For the Three Months Ended
December 31,
1996 1995
Net sales $4,040,693 $3,888,745
Net income (loss) (232,733) 261,560
Net income (loss) per
common share (0.05) 0.06
Average number of common
shares outstanding 4,635,239 4,466,156
-0-
For the Year Ended
December 31,
1996 1995
Net sales $10,279,084 $7,081,603
Net income (loss) $ 132,768 $ (606,830)
Net income (loss) per
common share $ 0.03 $ (0.14)
Average number of common
shares outstanding 4,662,011 4,470,322
-0-
CONTACT: Coastal Foods Inc. Cecil Ferguson, 713/987-8985 or KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Leslie A. Schupak/Joseph A. Mansi 212/682-6300, ext. 207/205 |
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