INTERNATIONAL YOGURT CO. REPORTS EARNINGS
INTERNATIONAL YOGURT CO. REPORTS EARNINGS PORTLAND, Ore., March 13 /PRNewswire/ -- International Yogurt Co.
(NASDAQ: YOCM), manufacturers and wholesalers of YO CREAM(R) frozen yogurt, reported sales of $1,191,030 for its first fiscal quarter ended Jan. 31, 1992, an increase of 16.4 percent compared to last year's corresponding quarter. The net loss for the first fiscal quarter this year was $71,063 contrasting to losses of $133,159 for last year's comparative quarter, representing a reduction of 47 percent.
John Hanna, chairman and chief executive officer, stated that the company has historically experienced seasonal sales declines and corresponding losses for the three months ended Jan. 31. "The substantial decrease in losses for the first quarter and the increase in sales are positive signals," John Hanna said. "We believe that they are indications of favorable results for the 1992 fiscal year." Dave Hanna, president, attributed the sales increase to new customers and the introduction during the quarter of the company's new SOFT SCOOP(TM) product. Dave Hanna explained that SOFT SCOOP YO CREAM is a hard-pack nonfat frozen yogurt that can be stored and distributed a higher temperature than standard hard-pack yogurts and ice creams. "We believe that because of this feature it will have wide acceptance in the food service industry," Dave Hanna stated. The company's frozen yogurt products are sold nationally through a system of sales representatives and distributors and recently in Europe through a licensing arrangement. INTERNATIONAL YOGURT CO. First Quarter Ended Jan. 31: 1992 1991 Revenues $1,191,030 $1,023,456 Net loss (71,063) (133,159) Net loss per share $ (0.04) $ (0.08) -0- 3/13/92 /CONTACT: Terry Lusetti of International Yogurt, 503-256-3754/ (YOCM) CO: International Yogurt Co. ST: Oregon IN: FOD SU: ERN
LM-JH -- SE002 -- 7656 03/13/92 08:02 EST
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|Date:||Mar 13, 1992|
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