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SUPREMA SPECIALTIES REPORTS YEAR-END RESULTS

 PATERSON, N.J., Oct. 12 /PRNewswire/ -- Suprema Specialties, Inc. (NASDAQ Small Cap: CHEZ), today reported results for the fiscal year ended June 30, 1993.
 Fiscal 1993 net earnings rose 86 percent to $621,378, or 28 cents per share, from $334,730, or 16 cents per share, for fiscal 1992. Net sales for the year increased 16.5 percent to $27,399,393 from $23,526,386 for the previous year.
 "Results for fiscal 1993 include a pre-tax $1 million gain realized from the sale to a third party of the right to market our mozzarella and ricotta cheeses to retail markets nationally," said Mark Cocchiola, president. "The agreement frees Suprema to focus on marketing our high quality hard cheeses, parmesan and romano, to retailers and, combined with our soft cheeses, to the fastest growing segments of our industry -- food service and food ingredient companies," Cocchiola explained.
 "New products and increased market penetration helped generate record sales and earnings for fiscal 1993 despite a decline in gross profit due to changes in our product mix. The lower gross profit will be partially offset by reduced sales and marketing costs," he explained.
 "We believe we now have the production and marketing capabilities and an enhanced management team that will produce further growth in fiscal 1994," Cocchiola concluded.
 SUPREMA SPECIALTIES, INC.
 Financial Highlights
 For the Year Ended June 30, 1993 1992
 Net sales $27,399,393 $23,526,386
 Net earnings (loss) 621,378 334,730
 Earnings (loss) per share $0.28 $0.16
 Weighted average shares outstanding 2,213,080 2,139,003
 -0- 10/12/93
 /CONTACT: Stuart Schwartz of Suprema Specialties, 201-684-2900/
 (CHEZ)


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

SH-TW -- NY077 -- 1208 10/12/93 14:56 EDT
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Publication:PR Newswire
Date:Oct 12, 1993
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