Printer Friendly

NASH FINCH REPORTS FIRST-QUARTER RESULTS

 NASH FINCH REPORTS FIRST-QUARTER RESULTS
 MINNEAPOLIS, April 20 /PRNewswire/ -- Nash Finch Company


(NASDAQ: NAFC) today reported record revenues and higher net earnings for the first quarter ended March 21, 1992.
 Total sales and revenues for the 12-week period rose to $531.9 million, an increase of 3.0 percent over revenues of $516.2 million in the same quarter a year ago.
 Net earnings for the quarter increased 6.5 percent to $2.3 million, or 21 cents per share, compared with $2.1 million, or 20 cents per share, earned in the first quarter last year.
 Nash Finch Chairman Harold Finch said, "The increase in sales was primarily due to the acquisition, in late January, of the company's Tidewater Wholesale Grocery division. The improvement in earnings resulted from Tidewater's contribution and substantially increased imports of Chilean fruit by the company's California-based produce marketing subsidiaries."
 Finch added that the weak economy in the company's trade areas and deflation in food prices continued to negatively affect sales and earnings growth during the quarter.
 Nash Finch is one of the largest food wholesalers in the country, supplying products to approximately 700 affiliated and independent supermarkets and some 5,000 other independent retailers and military bases in 28 states. The company also owns and operates approximately 90 supermarkets, warehouse stores and mass merchandise stores in 12 states and produce marketing subsidiaries in California.
 NASH FINCH COMPANY AND SUBSIDIARIES
 Condensed Statement of Earnings
 (unaudited)
 12 Weeks Ended
 March 21, March 23,
 1992 1991
 Total sales and revenues $531,883,224 $516,222,686
 Earnings before income taxes 3,697,584 3,470,748
 Income taxes 1,432,814 1,344,915
 Net earnings $2,264,770 $2,125,833
 Net earnings per share $.21 $.20
 Average number of shares
 outstanding 10,871,314 10,870,664
 -0- 4/20/92
 /CONTACT: Norman R. Soland of Nash Finch, 612-929-0371/
 (NAFC) CO: Nash Finch Company ST: Minnesota IN: FOD SU: ERN


AL -- MN014 -- 0187 04/20/92 15:37 EDT
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:Apr 20, 1992
Words:334
Previous Article:METALCLAD CORP. ANNOUNCES ORGANIZATION OF A THIRD JOINT VENTURE
Next Article:BRISTOL-MYERS SQUIBB ISSUES STATEMENT ON FINDINGS OF CLINICAL BENEFITS OF VIDEX


Related Articles
NASH FINCH REPORTS RECORD FIRST-QUARTER REVENUES
NASH FINCH REPORTS RECORD FIRST QUARTER REVENUES
NASH FINCH REPORTS RECORD SECOND-QUARTER REVENUES
NASH FINCH REPORTS RECORD FIRST QUARTER REVENUES
NASH FINCH REPORTS RECORD SECOND QUARTER RESULTS
NASH FINCH REPORTS RECORD FIRST QUARTER REVENUES
NASH FINCH REPORTS RECORD SECOND QUARTER REVENUES
Nash Finch Reports Record First Quarter Revenues
Nash Finch Reports Record Second Quarter Results
Nash Finch Reports First Quarter Results

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