YOCREAM International reported sales for the third quarter 2001 of $5.1 million, an 8.1% increase compared with the same quarter in 2000. Net income was approximately $406,000 or $0.18 per share, compared to $449,000 or $.20 per share for the same period in 2000. For the nine months ended July 31, 2001, sales were $11.5 million, a 1.5% increase compared with the same period in 2000. Net income was approximately $569,000 or $.25 per share, compared to $762,000 or $0.33 per share for the same period in 2000. Doug Caudell, YOCREAM'S CFO, said, "Like most companies, we were impacted by the negative economic conditions. But, instead of cutting back, we plunged ahead by hiring additional sales personnel and investing more in the market place. As a result, new sales records have been established each month since May 2001 and the trend is continuing beyond the quarter. We expect the bottom line to follow." Caudell also referred to the recent alliance with The Dannon Company, Inc. and reported that since the allian ce was announced in April 2001, the Company, with the assistance of Dannon personnel, has engaged twelve additional independent food brokers who were previously involved in Dannon's soft serve yogurt business. "We have also penetrated new markets as a result of the alliance," said Caudell.
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|Publication:||Ice Cream Reporter|
|Date:||Sep 20, 2001|
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