Corporate Profile for Krantor Corp., dated March 28, 1997.--(BUSINESS WIRE)--The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services. -0-
Published Date: March 28, 1997
Company Name: Krantor Corp.
Address: 120 East Industry Court
Deer Park, N.Y. 11729
Main Telephone
Number: 516/586-7500
Chief Executive
Officer: Henry Platek Jr.
Chief Financial
Officer: Mair Faibish
Investor Relations
Contact: Grace Sauer
Business number: 516/586-7500
Public Relations
Contact: Janis and Company
Business number: 516/943-1100
URL Address: krantor@mail.idt.net
Trading Symbol: NASDAQ:KRAN,KRANW
Industry: Food/Seafood Brokerage
Company description: Krantor Corp. and its subsidiaries operate
in the food distribution industry, which trade sources estimate
generates annual nationwide revenues of approximately $400 billion.
Krantor is a distributor of promotional brand-name grocery,
general merchandise, health and beauty aids products, and frozen
seafood. The company delivers these promotional products to its
wholesale and retail customers.
CHINESE JOINT VENTURE: MAJOR PROFIT OPPORTUNITY
In October 1996, Krantor entered into an exclusive 10-year
distribution agreement with a major Chinese trading company to
distribute frozen squid in the United States. In order to maximize
penetration into the U.S. market, the Chinese trading partner will
finance the purchase and sale of frozen squid.
PLANS FOR EXPANSION AND GROWTH
Krantor plans to expand its core grocery and frozen seafood
market through its Chinese venture. Subject to available financing,
the company plans to expand its continuing business by purchasing
well accepted, readily marketable promotional brand grocery products
and frozen seafood. The company believes that by buying on
promotion, it will be able to make larger purchases during
manufacturers' promotional periods, gain better access to some
product promotions ordinarily reserved for higher volume purchasers,
and thereby expand its customer and supplier base.
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KRANTOR CORP. CONSOLIDATED con·sol·i·date v. con·sol·i·dat·ed, con·sol·i·dat·ing, con·sol·i·dates v.tr. 1. To unite into one system or whole; combine: STATEMENT OF OPERATIONS See Income statement. (All Figures Below Are In 000s Except Earnings Per Share) 9/30/96 9/30/95 9/30/96 9/30/95 9 Months 9 Months 3 Months 3 Months -------- -------- -------- -------- Sales $ 7,061 $ 31,585 $ 1,224 $ 10,561 Continuing Operations Per Share (.09) .18 (.04) .05 Discontinued dis·con·tin·ue v. dis·con·tin·ued, dis·con·tin·u·ing, dis·con·tin·ues v.tr. 1. To stop doing or providing (something); end or abandon: Operations Per Share(1) (.98) -- (.40) -- (1) Reflects Final charges in connection with discontinuing the company's kosher kosher [Heb.,=proper, i.e., fit for use], in Judaism, term used in rabbinic literature to mean what is ritually correct, but most widely applied to food that is in accordance with dietary laws based on Old Testament passages (primarily Lev. 11 and Deut. 14). food business. Operating results for discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. are based upon costs that are not expected to be incurred by continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the . Summary of Activity Krantor Corp. Symbol:KRAN Monthly Volume by Market Maker Non-Block Block Total Wien Wien: see Vienna, Austria. Securities Corp. 71,000 1,188,132 1,259,132 Rocky Mountain Securities 32,500 898,000 930,500 J.B J.B . Job’s trials in modern setting and idiom. [Am. Lit.: J.B.] See : Suffering J.B . testing of contemporary Job. [Am. Lit.: J.B.] See : Test . Sutton Sutton, outer borough (1991 pop. 164,300) of Greater London, SE England. It is mainly residential, but plastics, chemicals, radio components, and paper goods are produced. The areas of Sutton were mentioned in the Domesday Book. Group 39,200 535,163 574,363 Lew a. 1. Lukewarm; tepid. Lieberbaum & Co. Inc. 27,350 94,650 122,000
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NOTE TO EDITORS: In the Internet/email address noted in this news
release, there is an "at" symbol between krantor and mail.idt.net.
This symbol may not appear properly in some systems.
CONTACT: Krantor Corp. |
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