Diamond Ranch Foods, Ltd. Reports Record First Quarter Profits.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 -- Diamond Ranch Foods, Ltd. (Pink Sheets: DFDR), a custom meat processing and distribution conglomerate, reported today that its first quarter ended June 30, 2006 generated record net operating profits on sales of $2,747,447.00. Louis Vucci, Jr., President of Diamond Ranch Foods, Ltd., announced that the net operating profits for the first quarter ended June 30, 2006 were $108,701, as compared to a net operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of $178,120 for the company's first quarter ended June 30, 2005. "These favorable results reflect the changes implemented by myself and Joseph Maggio, Chairman and 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. effective April 1, 2006. The results reflect current and continuing cost-cutting measures that we have put in place along with the additional higher gross profit margin Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. products that we have added to our diverse product line," stated Mr. Vucci. "Our payroll expense was cut by nearly 50% and our operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. were reduced by 30%. We have begun to run our company more efficiently and we are focusing on improving our profitability and net earnings," added Mr. Vucci. As previously announced, the company's strategy is to maintain profitable revenue and earnings growth through the next quarter and then begin to acquire other smaller regional distributors, growing the company through acquisitions and the broadening of its branded product lines. About Diamond Ranch Foods, Ltd. Diamond Ranch Foods, Ltd., a processor and distributor of meats and fresh cut portion controlled poultry, is located in the historic Gansevoort meatpacking meatpacking or meat-processing, wholesale business of buying and slaughtering animals and then processing and distributing their carcasses to retailers. The livestock industry is among the largest in the world. district in lower Manhattan, NY. Operations include packing, processing, labeling and distribution of products. The company's diversified customer base includes in-home food service businesses, retailers, hotels, restaurants, and institutions, deli and catering operators and industry suppliers. Specific customers include Madison Square Garden Current arenas in the National Hockey League Western Conference Eastern Conference , TGI TGI Tribunal de Grande Instance TGI Target Group Index TGI Thank God It's Friday (US restaurant chain) TGI Tracheal Gas Insufflation TGI Tumor Growth Inhibition TGI Trato Gastrointestinal (Portugese) Friday's, Sloan Kettering Hospital, and the Hilton Group. The company also provides portion controlled meats, custom meat cutting, and private labeling. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Forward-Looking Statements Statements contained in this release that are not strictly historical are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements are made based on information available as of the date hereof, and the company assumes no obligation to update such forward-looking statements. Editors and investors are cautioned that such forward-looking statements invoke risk and uncertainties and the company's actual results may differ from these forward-looking statements. Such risks and uncertainties include but are not limited to demand for the company's products and services, our ability to continue to develop markets, general economic conditions, our ability to secure additional financing for the company and other factors that may be more fully described in reports to shareholders and periodic filings with the Securities and Exchange Commission. |
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