RYKOFF-SEXTON REPORTS RESULTS
RYKOFF-SEXTON REPORTS RESULTS LOS ANGELES, Sept. 15 /PRNewswire/ -- Rykoff-Sexton Inc.
(NYSE: RYK) today reported results for the first fiscal quarter ended Aug. 1, 1992. The company sustained a net loss of $131,000, equal to $.01 per share, compared with net income of $3,227,000, or $.28 per share, for the corresponding period last year. Sales for the first quarter amounted to $371,548,000, compared with $367,602,000 a year ago.
As previously announced on Sept. 8, 1992, the company attributed the loss for the quarter to a number of internal and external factors and said it expects to receive benefits over the months ahead from cost-cutting programs and the restructuring of its two principal operating divisions. Rykoff-Sexton Inc. is a leading manufacturer and distributor of food and related products for restaurants, institutions and membership warehouse stores nationwide, as well as the country's largest restaurant equipment, supply, contract and design company. Manufacturing, processing and packaging operations are based in Los Angeles; Indianapolis; Englewood, New Jersey; Brooklyn, New York; and Des Moines, Iowa. The company's 29 distribution centers are located throughout the United States. RYKOFF-SEXTON INC. Condensed Consolidated Statements of Income (Unaudited) Three Months Ended Aug. 1, 1992 July 27, 1991 Net sales $371,548,000 $367,602,000 Income (loss) before provision (benefit) for income taxes (219,000) 5,378,000 Provision (benefit) for income taxes (88,000) 2,151,000 Net income (loss) (131,000) 3,227,000 Earnings (loss) per share ($.01) $.28 Weighted average number of shares outstanding 11,619,135 11,560,297 -0- 9/15/92 /CONTACT: Roger W. Coleman, president of Rykoff-Sexton, 213-622- 4131; or Roger S. Pondel of Pondel Parsons & Wilkinson, 310-207-9300/ (RYK) CO: Rykoff-Sexton Inc. ST: California IN: FOD SU: ERN
JB -- LA005 -- 9479 09/15/92 09:03 EDT
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|Date:||Sep 15, 1992|
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