Vitafort revenues soar in first quarter; loss reduced.LOS LOS Length of stay, see there ANGELES--(BUSINESS WIRE)--April 19, 1995--Vitafort International Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :VFRT) Wednesday Wednesday: see week. reported a 686 percent increase in revenues for its first quarter ended March 31, 1995, compared with the prior year's first quarter. The company also announced that despite losses in the quarter, it achieved "substantial progress in putting Vitafort on a profitable footing." For the three months ended March 31, 1995, Vitafort had revenues of $839,037, compared with $106,707 for the same period a year ago. The company reported a net loss of $263,698, equal to 1 cent per share, for the 1995 first quarter. This compares with a loss of $418,971, equal to 2 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , reported for the first three months of 1994. Mark Beychok, president and chief executive officer of Los Angeles- based Vitafort, said he expects the company may be profitable in the second half of the year and that revenues should increase significantly over the next nine months. Beychok said his confidence in the company's profitable growth is based on "exceptionally strong demand for the company's Fudget brand of all-natural, fat-free brownies, an accelerated national retail rollout of the product line and the introduction of additional fat-free snacks, beginning in the current second quarter." Vitafort's Fudgets, he said, are currently featured in more than 7,500 supermarkets, mass merchandiser outlets and drug stores in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Beychok said he expects retail distribution of the company's fat-free products to more than double during 1995. -0-
Vitafort International Corp.
Consolidated Statements of Operations
(Unaudited)
Three Months Ended March 31,
1995 1994
Revenues $ 839,037 $ 106,707 Net income (loss) $ (263,698) $ (418,971) Net income (loss) per share (1 cent) (2 cents) Number of common shares outstanding 24,022,081 21,068,487 CONTACT: Vitafort International Corp., Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Mark Beychok, 310/552-6393 or GCI GCI Ground Circuit Interrupter GCI Getty Conservation Institute GCI Global Commerce Initiative GCI Green Cross International (non-profit international environmental organization) GCI Growth Competitiveness Index GCI Great Cities Institute Spindler, Los Angeles Maura Schafer, 213/930-0811 |
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