INTERNATIONAL YOGURT REPORTS EARNINGS
INTERNATIONAL YOGURT REPORTS EARNINGS PORTLAND, Ore., Nov. 12 /PRNewswire/ -- International Yogurt Co.
(NASDAQ: YOCM), Portland manufacturers and wholesalers of Yo Cream(R) frozen yogurt, reported net income of $69,583 on sales of $1,901,653 for the quarter ending Sept. 30, 1991.
"We are pleased to see profits holding, even though sales are down," John Hanna, the company chairman, stated. "Profits were actually up by 18 percent for the nine-month period," he added. Management attributes the decline in sales to the general state of the economy. Hanna reflected that the company's sales volume increased very rapidly during the three years prior to 1991. "The pause in the growth has brought some benefits," he said. "We've been able to focus more intently on improving internal controls, increasing manufacturing efficiencies and reducing marketing costs. Now we are ready for another surge of growth and we are expecting it." Management also reported that the company has been developing new product lines over the past six months and that it will begin sampling these products to the industry very soon. "We believe that these products will make a significant impact in the marketplace, particularly in the food service industry," Hanna said. The company's frozen yogurt products are sold nationally through approximately 150 distributors and in Western Europe through a licensing arrangement. Third Qtr. Sept. 30 1991 1990 Revenues $1,901,653 $2,278,753 Net Income 69,583 75,617 Per Share 0.04 0.05 Nine Mos. Ending Sept. 30 1991 1990 Revenues $5,175,664 $6,195,621 Net Income 217,491 183,847 Per Share 0.12 0.11 -0- 11/12/91 /CONTACT: Terry Lusetti of International Yogurt Co., 503-256-3754/ (YOCM) CO: International Yogurt Co. ST: Oregon IN: FOD SU: ERN RJ-SC -- SE001 -- 3271 11/12/91 08:01 EST
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|Date:||Nov 12, 1991|
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