Printer Friendly

CHOCK FULL O' NUTS REPORTS SECOND QUARTER RESULTS

 CHOCK FULL O' NUTS REPORTS SECOND QUARTER RESULTS
 NEW YORK, March 13 /PRNewswire/ -- Chock full o' Nuts Corporation


(NYSE: CHF) today reported net income of $157,000, or $.02 per share, for the three months ended Jan. 31, 1992, compared to net income of $2,778,000 or $.32 per share reported in the comparable period of the prior year. Net sales were $61,419,000 compared to $70,403,000 last year.
 Net income for the six months was $614,000 or $.06 per share versus $4,781,000 or $.55 per share. Net sales were $126.2 million compared with $134.8 million in the year earlier period.
 Leon Pordy, chairman and chief executive officer, stated, "Continuing price wars for market share in our core markets reduced margins for our Chock full o' Nuts branded retail coffee products while the recessionary environment reduced customer demand in our food service operations. Also, as previously announced, second quarter profits from the peanut operations of Jimbo's Jumbos normalized from the high 1991 levels which resulted from drought occasioned shortages. The continued sales growth and high profit levels in our 'Hillside' specialty coffee category were not sufficient to offset these factors. As these business conditions appear to be continuing, we anticipate that earnings for the second half of fiscal 1992 will be at the levels of the first half of the year."
 Chock full o' Nuts Corporation roasts, packs and markets regular, instant and decaffeinated coffees under the Chock full o' Nuts label. Its best known coffee product is its premium, vacuum packed, all-method grind coffee. Hillside Coffee, 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 display 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. In December 1991, Jimbo's Jumbos, formerly a wholly owned subsidiary, successfully completed an initial public offering of its securities.
 CHOCK FULL O' NUTS CORPORATION
 Summary Financial Information
 Three months ended Jan. 31 1992(A) 1991
 Net sales $61,419,000 $70,403,000
 Net income $ 157,000 $ 2,778,000
 Net income:
 Primary $.02 $.32
 Fully diluted (B) $.02 $.21
 Six months ended Jan. 31 1992(A) 1991
 Net sales $126,164,000 $134,754,000
 Net income $ 614,000 $ 4,781,000
 Net income:
 Primary $.06 $.55
 Fully diluted (B) $.06 $.36
 (A) -- Includes the results of operations of Hillside Coffee, acquired in June 1991.
 (B) -- Assuming conversion of outstanding debentures.
 -0- 3/13/92
 /CONTACT: Leon Pordy, chairman of Chock full o' Nuts, 212-532-0300; or Cynthia A. Bond of Silverman, Heller Associates, 212-682-9222, for Chock full o' Nuts/
 (CHF) CO: Chock full o' Nuts Corporation ST: New York IN: FOD SU: ERN


GK-OS -- NY021 -- 7739 03/13/92 10:52 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:Mar 13, 1992
Words:498
Previous Article:THE MOVIE SUPERSTORE AND PATHFINDER CORP. SIGN LETTER OF INTENT TO MERGE
Next Article:O'BRIEN JOINS APACHE AS DIRECTOR OF GOVERNMENTAL AFFAIRS
Topics:


Related Articles
CHOCK FULL O' NUTS REPORTS FIRST 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 YEAR END RESULTS
CHOCK FULL O' NUTS CORPORATION REPORTS SECOND 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 Second Quarter Results
Chock full o' Nuts Reports Strong Gains in Income and Revenue In Fourth Quarter and Full 1997 Fiscal Year

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters