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ARDEN REPORTS SIX-MONTH SALES AND PROFITS

 ARDEN REPORTS SIX-MONTH SALES AND PROFITS
 MINNEAPOLIS, Aug. 6 /PRNewswire/ -- Arden International Kitchens,


Inc. (NASDAQ: AIKI) today reported a net income of $110,525, or 4 cents per share, on revenues of $8,480,277 for the six months ended June 27, 1992. This compares with a net income of $258,391, or 8 cents per share, on revenues of $9,064,881 for the first six months of 1991.
 For the second quarter, the company had a net income of $73,292, or 2 cents per share, on revenues of $4,292,213. This compares with a net income of $173,224 or 6 cents per share, on revenues of $4,751,362 for the same period last year.
 R. Stephen Tanner, chief executive officer, said, "Our sales continue to be adversely affected by a stagnant economy. The foodservice industry in general has been much slower to recover than we anticipated and as a result our fixed operating costs have risen as percent of sales.
 "For comparative purposes, our net income has been negatively affected by the fact that we have now fully utilized all of our net loss operating carryforwards and business tax credits. Our effective tax rate is now almost 39 percent compared to the 26 percent we were accruing last year."
 With regard to its previously announced plans to build a new plant in the Dakotas, Tanner explained, "We are moving ahead with plans for an additional plant although the sluggish economic recovery has slowed them somewhat. At this point we have not set a specific date for groundbreaking."
 Arden International Kitchens, Inc., headquartered in Lakeville, Minn., produces and markets frozen prepared food entrees for the foodservice industry. Annual sales are projected to reach approximately $20 million in 1991.
 ARDEN INTERNATIONAL KITCHENS, INC.
 Financial Summary
 (Unaudited)
 Periods ended Three Months Six Months
 6/27/92 6/29/91 6/27/92 6/29/91
 Net sales $4,292,213 $4,751,362 $8,480,277 $9,064,881
 Inc. bef. inc. tax 123,647 256,724 181,535 350,391
 Fed. & state inc. tax 50,355 83,500 71,010 92,000
 Net income 73,292 173,224 110,525 258,391
 Weighted average number
 of shares and equiv.
 shares outstanding 3,103,079 3,105,760 3,107,929 3,072,846
 Earnings per share $.02 $.06 $.04 $.08
 -0- 8/6/92
 /CONTACT: Brian E. MacKenzie of Arden International Kitchens, 612-469-2000/
 (AIKI) CO: Arden International Kitchens, Inc. ST: Minnesota IN: FOD SU: ERN


TM-CK -- NY008 -- 7433 08/06/92 09:02 EDT
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Publication:PR Newswire
Date:Aug 6, 1992
Words:428
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