Printer Friendly

NASH FINCH REPORTS THIRD-QUARTER RESULTS

 NASH FINCH REPORTS THIRD-QUARTER RESULTS
 MINNEAPOLIS, Nov. 6 /PRNewswire/ -- Nash Finch Company


(NASDAQ: NAFC) today reported revenues and net earnings for the fiscal third quarter and 40 weeks ended Oct. 3, 1992.
 For the 40 weeks, revenues totaled a record $1.884 billion, an increase of 4.9 percent from the $1.797 billion reported in 1991. Net earnings were $13.3 million, or $1.22 per share, compared with $13.4 million, or $1.23 per share, in the same period last year.
 Total revenues for the 16-week third quarter were a record $784.4 million, up 7.6 percent from $729.2 million in the same quarter last year. Net earnings for the quarter were $6.3 million, or 57 cents per share, down five cents per share compared with the third quarter earnings in 1991.
 Nash Finch Chairman Harold Finch said that the sales growth was primarily from the company's wholesale operations, particularly the Tidewater Wholesale Grocery division acquired in January 1992. Continuing deflation in food prices and the recessionary economy throughout the company's trade areas hindered sales and earnings growth for all segments of the company's business, particularly in the southeastern United States where the economy has been more severely impacted. In the midwest, retail operating results were negatively affected by costs associated with opening two new stores in the third quarter.
 Nash Finch is one of the largest food wholesalers in the country, supplying products to over 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
 Condensed Statement of Earnings
 (unaudited and in thousands, except per share data)
 16 Weeks Ended 40 Weeks Ended
 Oct. 3, Oct. 5, Oct. 3, Oct. 5,
 1992 1991 1992 1991
 Total sales
 and revenues $784,421 $729,227 $1,884,175 $1,796,542
 Earnings before
 income taxes 10,217 11,038 21,680 21,837
 Income taxes 3,959 4,277 8,401 8,462
 Net earnings $6,258 $6,761 $13,279 $13,375
 Net earnings
 per share $.57 $.62 $1.22 $1.23
 Average number
 of shares
 outstanding 10,872 10,871 10,872 10,870
 -0- 11/6/92
 /CONTACT: Norman R. Soland of Nash Finch, 612-844-1153/
 (NAFC) CO: Nash Finch Company ST: Minnesota IN: FOD SU: ERN


AL -- MN011 -- 8332 11/06/92 17:11 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:Nov 6, 1992
Words:418
Previous Article:HARPO PRODUCTIONS PRIME-TIME 'OPRAH: BEHIND THE SCENES' A SOLID NUMBER ONE NATIONAL RATING
Next Article:STATE FOOD INSPECTION PROGRAM CHECKS COMPLIANCE
Topics:


Related Articles
NASH FINCH REPORTS RECORD RESULTS FOR 1992 AND THE FOURTH QUARTER
NASH FINCH REPORTS RECORD THIRD-QUARTER REVENUES
Nash Finch Reports Record First Quarter Revenues
Nash Finch Reports Record Second Quarter Results
Nash Finch Company Announces Revitalization Plan to Streamline Operations and Improve Performance.
Nash Finch Company Reports First Quarter Results.
Nash Finch Company Reports Second Quarter Results.
Nash Finch Announces Stronger Third-Quarter Net Earnings.
Nash Finch to Webcast Conference Call Monday, July 17; Webcast is Live at 10 a.m. (CDT).
Nash Finch Third Quarter Earnings Increase 50%.

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