INTERNATIONAL YOGURT REPORTS EARNINGS
INTERNATIONAL YOGURT REPORTS EARNINGS PORTLAND, Ore., June 2 /PRNewswire/ -- International Yogurt Co.
(NASDAQ: YOCM), Portland manufacturers and wholesalers of YO CREAM frozen yogurt, reported net income of $72,938 on sales of $1,849,435 for the quarter ended April 30, 1992.
"Both sales and profits were up for the second quarter as well as for the first six months of our fiscal year," John Hanna, the company chairman stated. "The remaining months of the year are historically the strongest for the company, so we are expecting our best year," he added. Hanna attributed much of the growth to the introduction of YO CREAM SOFT SCOOP, a new frozen yogurt product that does not require special equipment and is formulated to be shipped and stored right along side other frozen goods at 0 degrees Fahrenheit. Other hardpack frozen yogurts and ice creams require storage at -10 degrees Fahrenheit to -20 degrees Fahrenheit and need special equipment. YO CREAM SOFT SCOOP recently led to expansion of the company's products into the Taiwan market with nonfat SOFT SCOOP in 3.5-ounce portion-controlled cups. YO CREAM SOFT SCOOP, distributed in Taiwan by Leonine Enterprise Ltd. is now being served in Kentucky Fried Chicken restaurants throughout Taiwan. During the coming year, Kentucky Fried Chicken expects to sell an estimated 1 million cups of YO CREAM SOFT SCOOP through their restaurants. In addition, YO CREAM has just begun to co-label with Leonine Enterprise Ltd. in foodservice and retail markets under the Leofrost/YO CREAM label. Leofrost is the largest retailer in Hong Kong with a well-estforts in the Pacific Rim. In addition to the Taiwan and Hong Kong opportunities, Hanna stated that YO CREAM is now being sold in the Pacific Rim through the Army Air Force Exchange System as well as in Saipan and Guam through an independent distributor. INTERNATIONAL YOGURT CO. Second Quarter Ended April 30: 1992 1991 Revenues $1,849,435 $1,705,882 Net income 72,938 58,550 Per share 0.04 0.03 Six Months Ended April 30: 1992 1991 Revenues $3,040,465 $2,729,338 Net income (loss) 1,875 (74,609) Per share 0.001 (0.04) -0- 6/2/92 /CONTACT: Terry Lusetti of International Yogurt, 503-256-3754/ (YOCM) CO: International Yogurt Co. ST: Oregon IN: FOD SU: ERN
LM-SF -- SE001 -- 6034 06/02/92 08:05 EDT
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|Date:||Jun 2, 1992|
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