Cott to Maintain Strong Marketing Links to Watt Design; Envoy and D. Watt Plan to Purchase Unit.TORONTO--(BUSINESS WIRE)--April 26, 1999-- Cott Corporation (Nasdaq:COTTF)(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BCB BCB Banco Central do Brasil (Brazil's central bank) BCB Borland C++ Builder BCB Bangladesh Cricket Board BCB Benzocyclobutene (low loss dielectric substrate) BCB Bumiputra-Commerce Bank BCB Broadcast Band .)(ME:BCB.) Envoy envoy: see diplomatic service. Envoy - Motorola's integrated personal wireless communicator. Envoy is a personal digital assistant which incorporates two-way wireless and wireline communication. Communication (TSE:ECG ECG electrocardiogram. ECG abbr. 1. electrocardiogram 2. electrocardiograph ECG Also called an electrocardiogram, it records the electrical activity of the heart. .) Cott Corporation and Envoy Communications Group Inc. announced today that they have jointly signed a letter of intent under which Envoy and Don Watt, Chairman of The Watt Design Group and a director of Cott Corporation, are to buy The Watt Design Group from Cott. Watt has been a part of Cott Corporation since 1992, providing design, packaging and marketing identity services to leading retailers. "We salute the contributions made by The Watt Design Group," said Frank E. Weise, Cott president and chief executive officer. "Our customers have applauded the design skills and services provided by Don and his team. We are especially pleased that we will continue to enjoy their work as valuable partners in our marketing programs through an ongoing relationsexpertise with both our traditional and new-medwork for building our business. Our longtime Cott clients will also benefit immediately." Weise said thlities in its three core markets of Canada, theCanada Life, Honda, Bridgestone/Firestone, Berm differ materially. These risks and uncertainti898 or Carabiner Investor Relations Investor relations The process by which the corporation communicates with its investors. Jason Mandel, 905/601-7635 or Envoy Communications Group Inc. Beverley Hammond, 416/593-7555 x. 366 KEYWORD: 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 INDUSTRY KEYWORD: FOODS/BEVERAGES MERGERS/ACQ Today's News On The Net - Business NGS NGS National Geographic Society NGS National Geodetic Survey NGS National Genealogical Society NGS Next Generation Security (software) NGS National Garden Scheme NGS National Graduate School NGS Next Generation Services 04-26 0001 02 BW1121 APR APR See: Annual Percentage Rate 26,1999 5:20 PACIFIC 8:20 EASTERN ( BW)(CA-DNAP-HOLDINGS)(DNAP DNAP Division of Natural Areas and Preserves DNAP DiplĂ´me National d'Arts Plastiques (French: Visual Arts National Diploma) DNAP DNAPrint Genomics, Inc. ) DNAP Announces First Quarter Results Business Editors OAKLAND, Calif.--(BUSNESS WIRE)--April 26, 1999-or $0.21 per share, compared with a loss of $0.s stated in a press release made by the Company last week, these results were driven by unfavorable weather conditions in the state of Sinaloa, Mexico where DNAP has its major growing operations during the winter season. Temperatures in the region were much cooler than normal which caused a 23% decline in production volumes from the first quarter of 1998 to the first quarter of 1999, and a 30% decline versus the Company's expectations prior to the start of the growing season growing season, period during which plant growth takes place. In temperate climates the growing season is limited by seasonal changes in temperature and is defined as the period between the last killing frost of spring and the first killing frost of autumn, at which . Even after the Company achieved a year-on-year $2 million reduction in the costs of its farming operations for the winter growing season, farming gross profit declined by $2.7 million from the first quarter of 1998 to the first quarter of 1999. These same weather conditions also caused the Company to deliver a larger percentage of its production to the Mexican market rather than selling it in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada, which typically deliver higher prices than Mexico. Due to this impact and the overall lower volumes available for sale, DNAP's distribution companies' gross profit fell $1.4 million, or 26%, from the first quarter of 1998 to the first quarter of 1999. Selling and administrative expenses increased by $0.9 million as the Company added certain resources in its farming, selling, and administrative functions in anticipation of growing its bu Research and development expense increased sliociated with DNAP's debt refinancing Refinancing An extension and/or increase in amount of existing debt. in the fouto $0.7 million in the first quarter of 1999 associated with the higher rates charged on advances to growers. "Before the full effects of the weather became known to us, we had expected this first quarter to be a very strong quarter," stated Bernardo Jimenez, Chief Executive Officer of DNAP Holding. "Strategic actions we had taken to assure improved product quality, grow our sales, and reduce costs were clearly overshadowed by the extremely unusual weather experienced in Mexico during this winter season." DNAP Holding Corporation is a leading biotechnology company focused on using its proprietary genetic engineering and plant s traits of fruits and vegetables. Through its fresh produce growers and distribution companies, DNAP is known for its premium Master's Touch(R) and FreshWorld Farms(R) bwned by Mexico's SAVIA, S.A. de C.V. (NYSE NYSE See: New York Stock Exchange : VAI VAI Voest-Alpine Industrieanlagenbau (Austrian company) VAI Video As Input VAI Voluntary Action Indicated (US FDA) VAI Volleyball Association of Ireland VAI Video Assisted Instruction )y believes that the expectations reflected in such forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. are reasonable, it can give no assurance that such expectations will prove to be correct. Thresults and could cause such results to differ m foreign operations, public acceptance of genetically-engineered products, commercial success of new products, proprietary protection of and advances in technology, possible need for additional financing, as well as the ability of the Company to successfully integrate recent acquisitions and its management information systems and controls. Further information on the factors that could affect the Company'usands of U.S. Dollars (e development expenses 1,507 61,959 69,216 ------------------ ------------------ Operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. (loss) ( 3,611) 1,267 ------------------ ------------------ ncome (loss) before income tax ( 5,064) ( 108) Income tax benefit (expense) ( 169) ( 279) ------------------ ------------------ Net income (loss) before minority interest ( 5,233) ( 387) Minority interest in net loss (income) of subsidiaries 316 ( 313) ------------------ ------------------ Net income (loss) ( 4,917) ( 700) Other comprehensive income (expense) net of tax: Foreign currency translation adjustments ( 4) ( 2) ------------------ ------------------ Comprehensive income (loss) $ ( 4,921) $ ( 702) ================== ================== Net income (loss) per share - basic and diluted $ ( 0.21) $ ( 0.04) ================== ================== Weighted average number of common shares outstanding 23,588,031 18,370,640
This schedule contains financial data extracted from the
Company's financial statements at and for the three month period ended
March 31, 1999, which will be included in the Company's Form 10-Q
quarterly report for such period, which will be filed on or before May
15, 1999 and is qualified in its entirety by reference to such
financial statements.
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