Printer Friendly

UNITED HERITAGE CORPORATION ANNOUNCES RESULTS

 CLEBURNE, Texas, Nov. 19 ~PRNewswire~ -- United Heritage Corporation (NASDAQ: UHCP), a Cleburne based holding company engaged in the production and sale of lite beef and cattle, today announced results of its annual meeting, held Nov. 12, 1992, at its corporate headquarters, and net income for the period ended Sept. 30, 1992.
 Of 14,247,300 shares of common stock outstanding, 13,090,620, or 92 percent, were voted by proxy at the meeting. The shares voting registered a 99 percent approval of the issues brought before the shareholders, including approval of all board actions for the previous period.
 "This is a mandate for United Heritage Corporation," said Walter G. Mize, chairman of the United Heritage Corporation board of directors and CEO of the company. "It is seldom heard of in today's corporate world for management to receive a 99 percent approval rating."
 Mize continued, "The confidence exhibited by our shareholders is extremely gratifying. Obviously they know where we've been and where we are going, and they approve."
 The company is currently involved in establishing a national network of food brokers to market on a nationwide basis HERITAGE LITE BEEF(R), the low-fat beef product purveyed by the company's wholly-owned subsidiary, National Heritage Sales Corporation.
 Net income for the period ended Sept. 30, 1992, reflected a loss of $93,785. The reasons for this loss were increased costs pertaining to the company's intensified marketing campaign for HERITAGE LITE BEEF(R) and related overhead costs. This compares with net income for the same period of the previous year of $135,165.
 Mize pointed out that year-to-date earnings, however, were positive, showing net income of $38,610, compared to year-to-date earnings of Sept. 30, 1991, of $271,077.
 "Our marketing campaign will be somewhat costly," Mize said, "however, the rewards we can achieve can be well worth the cost and effort."
 -0- 11~19~92
 ~CONTACT: Walter G. Mize of United Heritage Corporation, 817-641-3681~
 (UHCP)


CO: United Heritage Corporation ST: Texas IN: FOD SU: ERN

WB -- NY066 -- 2886 11~19~92 12:25 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 19, 1992
Words:341
Previous Article:SUPREMA SPECIALTIES ANNOUNCES FIRST QUARTER RESULTS
Next Article:SEARCH EXPLORATION, INC. ANNOUNCES FINANCIAL RESULTS
Topics:


Related Articles
UNITED HERITAGE MAKES HERITAGE LITE BEEF PRESENTATION TO SCRIVNER
UNITED HERITAGE ANNOUNCES COMPLETION OF STOCK OFFERING
UNITED HERITAGE ANNOUNCES TEST MARKET OF HERITAGE LITE BEEF
UNITED HERITAGE ANNOUNCES NUTRITIONAL VALUES FOR HERITAGE LITE BEEF(TM)
UNITED HERITAGE SUBSIDIARY ANNOUNCES AGREEMENT WITH D. B. BROWN
UNITED HERITAGE CORPORATION TO COMMENCE TEST-MARKETING OF HERITAGE LITE BEEF
UNITED HERITAGE CORPORATION MAKES ANNOUNCEMENT
UNITED HERITAGE CORPORATION RECEIVES LARGEST ORDER EVER
UNITED HERITAGE CORPORATION ANNOUNCES FOURTH QUARTER SALES
UNITED HERITAGE CORPORATION MAKES ANNOUNCEMENT

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