Cuisine Solutions' Sales Grow 31.5% During the Third Quarter of 2005; Upscale Frozen Food Manufacturer again profitable for the quarter.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) today announced its results for the third quarter of fiscal year 2005. Revenue in the third quarter of fiscal 2005 increased $3,442,000 from $10,913,000 to $14,355,000, a 31.5% increase compared to the same quarter of the previous fiscal year due primarily to stronger sales in the Military, Food Service, and On Board Services channels. Revenue for the first three quarters of fiscal 2005 increased $7,709,000 from $26,411,000 to $34,120,000, a 29.2% increase compared to same period of the previous year, primarily due to the increased sales in all sales channels in the US and most of the channels in France. "It is our stated goal to be the leader in the upscale, fully cooked, frozen food market," explains Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM). The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs L. Gregg Gregg can refer to:
2. The constitution of the United States, amend. art. 3, directs that no soldier shall, in time of peace, be quartered in any house, without the 'consent of the owner; nor in time of war, but in a manner to be eating dinner in harms way in Iraq Iraq or Irak (both: ēräk`, ĭrăk`), officially Republic of Iraq, republic (2005 est. pop. 26,075,000), 167,924 sq mi (434,924 sq km), SW Asia. ." The Company reported net earnings from 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 for the third quarter of fiscal year 2005 of $511,000 compared to a loss of $246,000 for the same quarter of fiscal year 2004. The 307.7% increase in net earnings from continuing operations was primarily due to a 31.5% increase in sales and a 60.2% increase in gross margin. The Company reported net earnings of $1,323,000 from continuing operations for the three quarters of fiscal 2005, or a 964.7% increase, compared to the net loss from continuing operations of $153,000 in 2004. The increase in earnings was primarily driven by a 29.2% increase in sales and lower cost of goods sold Cost of goods sold The total cost of buying raw materials, and paying for all the factors that go into producing finished goods. cost of goods sold due to manpower efficiencies in production and lower raw material cost. Information as to Cuisine Solution sales by geographical ge·o·graph·ic also ge·o·graph·i·cal adj. 1. Of or relating to geography. 2. Concerning the topography of a specific region. ge locations for the third quarter 2005 are as follows:
Q3 Fiscal Q3 Fiscal
2005 2004 $Change %Change
---------- --------- ------- -------
USA $9,113,000 $6,916,000 $2,197,000 31.8%
France 5,242,000 3,997,000 1,245,000 31.1%
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Total Net Sales $14,355,000 $10,913,000 $3,442,000 31.5%
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Cuisine Solutions US Fiscal Years 2005 and 2004 third quarter sales by sales channel are as follows:
Q3 FY05 Q3 FY04 $Change %Change
------- ------- ------- -------
Food Service $1,861,000 $1,786,000 $75,000 4.2%
On Board Services 3,285,000 2,579,000 706,000 27.4%
Retail 1,387,000 1,762,000 (375,000) (21.3%)
Military 2,015,000 216,000 1,799,000 832.9%
National Restaurant
Chain 565,000 573,000 (8,000) (1.4%)
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Total $9,113,000 $6,916,000 $2,197,000 31.8%
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Cuisine Solutions France fiscal year 2005 third quarter sales by sales channel were as follows:
Q3 FY05 Q3 FY04 $Change %Change
------- ------- ------- -------
Food Service $2,926,000 $1,577,000 $1,349,000 85.5%
On Board Services 578,000 496,000 82,000 16.5%
Retail 1,727,000 1,907,000 (180,000) (9.4%)
New Business 11,000 17,000 (6,000) (35.3%)
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Total $5,242,000 $3,997,000 $1,245,000 31.1%
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A comparison 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 , gross margin and net earnings for Fiscal Year 2005 third Quarter from operations follows:
Quarter Ended
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Apr. 2, 2005 Apr. 3, 2004 % Change
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(Dollars in thousands)
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Net Sales $14,355 $10,913 31.5%
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Gross margin 3,802 2,374 60.2%
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Gross margin percentage 26.5% 21.8%
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Earnings from continuing operations $511 ($246) 307.7%
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Net earnings $511 ($562) 190.9%
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Information as to Cuisine Solution sales by geographical locations for the first three quarters of 2005 are as follows:
YTD Fiscal YTD Fiscal
2005 2004 $Change %Change
---------- ---------- ------- -------
USA $22,371,000 $16,452,000 $5,919,000 36.0%
France 11,749,000 9,959,000 1,790,000 18.0%
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Total Net Sales $34,120,000 $26,411,000 $7,709,000 29.2%
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Cuisine Solutions US Fiscal Years 2005 and 2004 YTD See Year-to-date. YTD See year to date (YTD). sales by sales channel are as follows:
YTD FY05 YTD FY04 $Change %Change
-------- -------- ------- -------
Food Service $4,585,000 $4,242,000 $343,000 8.1%
On Board Services 8,466,000 6,826,000 1,640,000 24.0%
Retail 3,941,000 3,285,000 656,000 20.0%
Military 4,000,000 867,000 3,133,000 361.4%
National Restaurant
Chain 1,379,000 1,232,000 147,000 11.9%
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Total $22,371,000 $16,452,000 $5,919,000 36.0%
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Cuisine Solutions France Fiscal Year 2005 and 2004 YTD sales by sales channel were as follows:
YTD FY05 YTD FY04 $Change %Change
-------- -------- ------- -------
Food Service $5,942,000 $3,799,000 $2,143,000 56.4%
On Board Services 1,634,000 1,391,000 243,000 17.5%
Retail 4,121,000 4,745,000 (624,000) (13.2%)
New Business 52,000 24,000 28,000 116.7%
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Total $11,749,000 $9,959,000 $1,790,000 18.0%
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A comparison of Fiscal Year 2005 and 2004 YTD net sales, gross margin and net earnings from operations follows:
Year to Date
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Apr. 2, 2005 Apr. 3, 2004 %Change
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(Dollars in thousands)
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Net Sales $34,120 $26,411 29.2%
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Gross margin 8,828 5,830 51.4%
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Gross margin percentage 25.9% 22.1%
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Earnings from continuing operations $1,323 ($153) 964.7%
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Net earnings (loss) $1,266 ($680) 286.2%
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This news release contains 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. 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. Those statements reflect the intent, belief or current expectations of the company and members of the management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risk and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements reflecting changed assumptions, the occurrence of unanticipated events or changes to future operating results over time. |
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