Printer Friendly

ESKIMO PIE CORPORATION REPORTS EARNINGS AND DIVIDEND

 ESKIMO PIE CORPORATION REPORTS EARNINGS AND DIVIDEND
 RICHMOND, Va., Feb. 24 /PRNewswire/ -- Eskimo Pie Corporation today


reported net income for 1991 of $3,749,000, or $1.13 per share, compared with $2,526,000, or 76 cents per share, in 1990. Net sales for the year were $60,955,000, compared with $47,198,000 in 1990.
 Approximately one half of the change in net sales was attributable to a price increase to the company's licensees for branded products, as the company assumed responsibility in 1991 for advertising and sales promotion costs previously shared with licensees. The effect of this increase on gross profit was substantially offset by increased advertising and sales promotion costs which, as a percentage of net sales, rose from 10.9 percent in 1990 to 19.4 percent in 1991. The addition of the Heath brand ice cream bar to the company's product line in 1991, as well as growth of the Eskimo Pie brand, also contributed to the net sales increase. Net income was favorably affected by the increase in net sales and an improved sales mix.
 The board of directors has declared a special cash dividend of $4.52 per share, payable March 17 to shareholders of record on February 28, 1992.
 All per share data, including the cash dividend, has been adjusted to reflect the previously announced 2.5 for 1 stock split effective on March 17, 1992.
 The company markets branded frozen novelties, including its Eskimo Pie line of products, through a national network of licensed manufacturers.
 A registration statement covering a public offering of the company's securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 2/24/92
 /CONTACT: Lou Anne J. Nabhan, Reynolds Metals Company at 804-281-2965 or home at (804) 359-2986/ CO: Eskimo Pie Corporation ST: Virginia IN: FOD SU: ERN


DF -- CH001 -- 1874 02/24/92 11:56 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 24, 1992
Words:395
Previous Article:UNITED TECHNOLOGIES AUTOMOTIVE TO PLAY MAJOR ROLE IN FORD ELECTRIC VAN PROGRAM
Next Article:SKYWEST DELTA CONNECTION REPORTS JANUARY TRAFFIC
Topics:


Related Articles
ESKIMO PIE CORPORATION ANNOUNCES EARNINGS
ESKIMO PIE CORPORATION REPORTS THIRD QUARTER EARNINGS
ESKIMO PIE CORPORATION REPORTS RECORD EARNINGS FOR 1992
ESKIMO PIE CORPORATION REPORTS SECOND QUARTER EARNINGS
ESKIMO PIE CORPORATION REPORTS NINE MONTH & THIRD QUARTER RESULTS
ESKIMO PIE CORPORATION REPORTS NINE MONTH & THIRD QUARTER RESULTS; DECLARES FOURTH QUARTER DIVIDEND
ESKIMO PIE THIRD QUARTER AND NINE MONTHS' EARNINGS EXPECTATIONS
ESKIMO PIE CORPORATION REPORTS 1994 EARNINGS
ESKIMO PIE CORPORATION REPORTS FIRST QUARTER RESULTS
ESKIMO PIE CORPORATION REPORTS SECOND QUARTER RESULTS

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters