Printer Friendly

VESTRO FOODS INC. REPORTS RESULTS

 VESTRO FOODS INC. REPORTS RESULTS
 NEWPORT BEACH, Calif., May 22 /PRNewswire/ -- Vestro Foods Inc.


(NASDAQ: VEST) announced today the company's financial results for the first quarter ended March 31, 1992. Net sales for the quarter increased 2 percent to $9,336,000 from $9,139,000. Net income for the quarter was ($71,000) compared to net income of $138,000 in the prior year.
 Henry W. Poett, III, president and chief executive officer of Vestro Foods Inc. stated "Our first quarter results, which are somewhat disappointing reflect some slippage in our operations from the improved results of 1991. We anticipate a return to profitability in subsequent quarters of this year."
 Vestro is a specialty food acquisition and operating company concentrating in two "core" businesses: Fine Baked Products and Natural Foods.
 VESTRO FOODS INC.
 Financial Highlights
 For the Quarter Ended
 March 31,
 1992 1991
 Net sales $9,336,000 $9,139,000
 Income (loss) before
 extraordinary items (71,000) 82,000
 Extraordinary items (a) --- 56,000
 Net income (loss) ($71,000) $138,000
 Earnings (Loss) Per
 Common Share:
 Before extraordinary items (b) ($.02) ($.01)
 Extraordinary items .00 .00
 Net ($.02) ($.01)
 (a) Represents the utilization of a net operating loss carryforward.
 (b) Computed by adjusting net income for the company's scheduled quarterly preferred dividend, which amounted to $262,000 in 1992 and in 1991.
 -0- 5/22/92
 /CONTACT: Betty Glickman of Vestro Foods, 714-760-0354/
 (VEST) CO: Vestro Foods Inc. ST: California IN: SU: ERN


AL-EH -- LA013 -- 3468 05/22/92 16:55 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 22, 1992
Words:254
Previous Article:CHRYSLER ADDS UNIQUE EQUIPMENT DISCOUNT TO ALREADY POPULAR MINIVANS
Next Article:SEPARATED EXECS GET HIGH TECH HELP
Topics:


Related Articles
VESTRO FOODS INC. ANNOUNCES THIRD QUARTER AND NINE-MONTH RESULTS
VESTRO FOODS INC. ANNOUNCES RESULTS
VESTRO FOODS INC. ANNOUNCES RESULTS
CORRECTION TO VESTRO FOODS INC. ANNOUNCES RESULTS.
VESTRO FOODS INC. ANNOUNCES SALE OF FINE BAKED GOODS OPERATIONS
VESTRO FOODS INC. ANNOUNCES NEW CORPORATE OFFICERS
VESTRO FOODS INC. ANNOUNCES 1992 FINANCIAL RESULTS
VESTRO FOODS ANNOUNCES FIRST QUARTER RESULTS
VESTRO FOODS ANNOUNCES IMPROVED RESULTS
VESTRO FOODS INC. ANNOUNCES 1993 EARNINGS

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters