Printer Friendly

CHOCK FULL O' NUTS CORPORATION REPORTS YEAR END RESULTS

 CHOCK FULL O' NUTS CORPORATION REPORTS
 YEAR END RESULTS
 NEW YORK, Oct. 9, /PRNewswire/ -- Chock full o' Nuts Corporation (NYSE: CHF) today reported a net loss of $4,059,000, or $.41 per share, for the year ended July 31, 1992 compared to net income of $8,792,000 or $.97 per share in fiscal 1991. Net sales were $258,673,000 compared to $269,671,000 last year. Net loss for the fourth quarter was $4,955,000 or $.50 per share versus net income of $2,334,000 or $.25 per share. Net sales were $69.5 million compared with $68.2 million in the year earlier period. Both the year and quarters included the following unusual items: in fiscal 1992 a restructuring charge of $3,630,000 ($.37 per share) and officer's termination benefits of $1,303,000 ($.13 per share), each net of income tax benefits and in fiscal 1991 income from settlement of litigation of $832,000 ($.09 per share), net of income taxes.
 Mr. Joseph Breslin, Chairman and Chief Executive Officer, stated, "The continuing competitive environment in our core coffee business, as well as the difficult economic times experienced by the country as a whole, required the Company to take the aforementioned charges relating to restructuring certain manufacturing facilities. We believe these actions will save the Company substantial dollars in the future."
 Chock full o' Nuts Corporation roasts, packs and markets regular, instant and decaffeinated coffees under the Chock full o' Nuts label. Its best know coffee product is its premium, vacuum- packaged, all- method grind coffee. Hillside Coffee of California, a leading roaster, distributor and marketer of specialty whole bean coffees provides a unique direct store delivery and full service merchandising program to supermarkets, utilizing attractive end-of-aisle, free-standing displays kiosks with self-service grinders. The Company is also one of the largest marketers of food service and private label coffees, teas and related beverage products, as well as the number one supplier of consumer packaged in-the-shell peanuts in the United States.
 CHOCK FULL O' NUTS CORPORATION
 SUMMARY FINANCIAL INFORMATION
 Year Ended July 31,
 1992 (a) 1991
 Net sales $ 258,673,000 $ 269,671,000
 Net (loss)/income $ (4,059,000) (b) $ 8,792,000 (c)
 Net (loss)/income per share
 Primary $ (.41) (b) $ .97 (c)
 Fully diluted $ (.41) $ .66 (d)
 Three Months Ended July 31,
 1992(a) 1991
 Net sales $ 69,540,000 $ 68,167,000
 Net (loss)/income $ (4,955,000) (b) $ 2,334,000 (c)
 Net (loss)/income per share
 Primary $ (.50) (b) $ .25 (c)
 Fully diluted $ (.50) $ .18 (d)
 (a) Includes the results of operation of Hillside Coffee, acquired in June 1991.
 (b) Includes restructuring charge of $ 3,630,000 ($.37 per share) and officer's termination benefits of $ 1,303,000 ($.13 per share), each net of income tax benefits.
 (c) Includes income of $832,000, net of income taxes ($.09 per primary and $.04 per fully diluted share) related to termination of real estate agreements.
 (d) Assuming conversion of outstanding debentures.
 -0- 10/9/92
 /CONTACT: Joseph Breslin, Chairman of Chock full o' Nuts 212-532-0300/
 (CHF) CO: Chock full o' Nuts Corporation ST: New York IN: FOD SU: ERN


LR -- NY013 -- 8236 10/09/92 09:32 EDT
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:Oct 9, 1992
Words:538
Previous Article:ROLLS-ROYCE TO LAUNCH 1993 LINE IN LOS ANGELES
Next Article:NATWEST BANCORP TURNAROUND CONTINUES; POSTS $39.4 MILLION PROFIT IN THIRD QUARTER
Topics:


Related Articles
CHOCK FULL O' NUTS REPORTS FIRST QUARTER RESULTS
CHOCK FULL O' NUTS REPORTS SECOND QUARTER RESULTS
CHOCK FULL O' NUTS REPORTS THIRD QUARTER RESULTS
CHOCK FULL O' NUTS RESTRUCTURING WILL RESULT IN ONE-TIME PRE-TAX CHARGE OF $5.5 MILLION, MOSTLY NON-CASH
CHOCK FULL O' NUTS CORPORATION REPORTS SECOND QUARTER RESULTS
CHOCK FULL O' NUTS CORPORATION REPORTS THIRD QUARTER RESULTS
CHOCK FULL O' NUTS REPORTS 4TH QUARTER, YEAR RESULTS
CHOCK FULL O' NUTS REPORTS FIRST QUARTER RESULTS
Chock full o'Nuts Reports First Quarter Earnings
Chock full o' Nuts Reports Strong Gains in Income and Revenue In Fourth Quarter and Full 1997 Fiscal Year

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