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Cuisine Solutions, Inc. Announces Fiscal 2007 Year End and Fourth Quarter Results.


Fourth Consecutive Year of 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
 Growth Over 25%

ALEXANDRIA Alexandria, city, Egypt
Alexandria, Arabic Al Iskandariyah, city (1996 pop. 3,328,196), N Egypt, on the Mediterranean Sea. It is at the western extremity of the Nile River delta, situated on a narrow isthmus between the sea and Lake Mareotis (Maryut).
, Va. -- Cuisine Cuisine (from French cuisine, "cooking; culinary art; kitchen"; ultimately from Latin coquere, "to cook") is a specific set of cooking traditions and practices, often associated with a specific culture.  Solutions, Inc. (AMEX AMEX

See: American Stock Exchange
: FZN), a leading premium, fully-cooked, frozen food manufacturer, today announced results for its fiscal year and fourth quarter ended June 30, 2007 . For the fiscal year we reported an increase in net sales of 25.3% from $64,114,000 to $80,331,000. All five sales channels showed positive growth for the fiscal year led by National Restaurant Chains The following is a list of restaurant chains.

See also: Fast-food restaurant, Casual dining, List of reference tables. International

  • Bennigan's
  • Burger King
  • Charley's Grilled Subs
  • Domino's Pizza
  • Hard Rock Cafe
 and Retail growing 65.8% and 48.7%, respectively, compared to fiscal year 2006. Net income for fiscal year 2007 increased to $10,544,000 from $3,654,000 in fiscal year 2006 due primarily to a reversal of a tax valuation reserve for a net benefit of $7,069,000. Net income per share basic went from $0.22 per share to $0.64 and diluted di·lute  
tr.v. di·lut·ed, di·lut·ing, di·lutes
1. To make thinner or less concentrated by adding a liquid such as water.

2. To lessen the force, strength, purity, or brilliance of, especially by admixture.
 from $0.20 to $0.58 per share for fiscal 2007 as compared to fiscal 2006. "This completes our fourth consecutive fiscal year with over 25% sales growth and our third consecutive year of profitability," stated CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  Stanislas Vilgrain. "Most importantly Adv. 1. most importantly - above and beyond all other consideration; "above all, you must be independent"
above all, most especially
 with every sale, awareness of the Cuisine Solutions premium brand grows both with the retail consumers and food industry professionals."

For the fourth quarter of fiscal year 2007 our net sales were $18,979,000, up 28.2% over prior fiscal year fourth quarter of $14,800,000. Growth in fourth quarter sales was largely driven by an 88.9% increase in new product sales compared to the same period in fiscal 2006. Military and National Restaurant Chain sales grew by 95.5% and 68% respectively compared to the same quarter in fiscal year 2006. Net income for the fourth quarter of fiscal year 2007 decreased to a loss of $223,000 compared to fourth quarter of fiscal year 2006 income of $686,000 due primarily to a tax adjustment of $810,000. Net income per share basic and diluted went from $0.04 per share to ($0.01) for the fourth quarter of fiscal year 2007 as compared to the fourth quarter of fiscal year 2006.

"Our goal and focus on being the leader in the premium, fully-cooked, frozen food category remains steadfast," stated Mr. Vilgrain. "Our strategy for greater growth and profitability for fiscal 2008 includes enhancing our distribution capabilities to reach more customers and improving our overall customer service and care while continuing to produce and sell the highest quality products in our market with greatest possible convenience to food professionals and consumers."

(unaudited)
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This news release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended a·mend  
v. a·mend·ed, a·mend·ing, a·mends

v.tr.
1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive.

2.
 and Section 21E of the Securities Exchange Act of 1934, as amended. Achievement of projected or implied future results, including, without limitation, is subject to numerous risks and uncertainties--including, without limitation, the risks and uncertainties discussed in the Company's filings with the Securities and Exchange Commission--and the possibility of inaccurate assumptions that could cause actual results to vary materially from the results expressed or implied in this presentation. Among these risks and uncertainties are the Company's assumptions related to the performance of certain aspects of its business upon which its future financial results may be materially reliant, including, without limitation, projected sales generated by its military, retail, onboard Refers to a chip or other hardware component that is directly attached to the printed circuit board (motherboard). Contrast with offboard. See inboard.  services, food service and national restaurant chain channels, changes in product mix and corresponding changes in average unit price and production efficiencies, and costs related to new facilities and other expenditures incident to plans to future growth. Material changes in any of these or other financial factors may cause actual results to differ materially from any projections made herein. In addition, except as required by law, the Company does not undertake and does not intend to update any forward-looking statement 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.
 that it may make in this presentation or in any other context, from time to time.
COPYRIGHT 2007 Business Wire
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Publication:Business Wire
Date:Sep 20, 2007
Words:651
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