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SUPREMA SPECIALTIES REPORTS FIRST QUARTER RESULTS

 PATERSON, N.J., Nov. 11 /PRNewswire/ -- Suprema Specialties, Inc. (NASDAQ: CHEZ), today reported gains in sales and income before the cumulative effect of an accounting change for the first quarter ended Sept. 30, 1993.
 Earnings before the cumulative effect of an accounting change rose 73 percent to $119,699, or 5 cents per share, from $68,987, or 3 cents per share, for the same period last year. The company adopted provisions of SFAS 109 - Accounting For Income Taxes, effective July 1, 1993, resulting in a net charge to the current year's first fiscal quarter of $75,000, or 3 cents per share, reducing net income for the period to $44,699, or 2 cents per share. First quarter net sales increased 15 percent to $7,373,519 from $6,422,746 for the comparable period of last year.
 "The results reflect a higher volume of business in food service products produced at our Manteca, Calif., facility. This was partially offset by the loss of revenues as the result of the sale during the third quarter last year of our retail ricotta and mozzarella business," Mark Cocchiola, president, said. "We believe our strategy to focus on food service and food ingredient customers -- representing the fastest growing industry segments -- will generate long-term growth and increased profitability," he added.
 Suprema Specialties manufactures and markets a variety of premium gourmet natural cheese products.
 SUPREMA SPECIALTIES, INC.
 Financial Highlights (Unaudited)
 For the three months
 ended Sept 30, 1993 1992
 Net sales $7,373,519 $6,422,746
 Earnings before cumulative
 effect of an accounting change 119,699 68,987
 Cumulative effect of an accounting
 change(A) 75,000 --
 Net earnings 44,699 68,987
 Earnings per share:
 Before cumulative effect of an
 accounting change $.05 $.03
 Cumulative effect of an accounting
 change(A) ($.03) --
 Net earnings $.02 $.03
 Weighted average shares
 outstanding 2,202,177 2,186,282
 (A) Effective July 1, 1993, the company adopted provisions of SFAS 109 - Accounting for Income Taxes.
 -0- 11/11/93
 /CONTACT: Stuart Schwartz of Suprema Specialties, 201-684-2900/
 (CHEZ)


CO: Suprema Specialties, Inc. ST: New Jersey IN: FOD SU: ERN

SH-TW -- NY056 -- 3315 11/11/93 14:55 EST
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Publication:PR Newswire
Date:Nov 11, 1993
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