Provena Foods Inc. Reports First Quarter Results
CHINO, Calif., May 13 /PRNewswire-FirstCall/ -- Provena Foods Inc. (AMEX:PZA)
incurred a net loss of $162,676 for the 1st quarter of 2005 compared to a net
loss of $360,697 a year ago. The Company's sales were up 23% in the 1st
quarter compared to the same period of 2004. Both the meat and pasta divisions
contributed to the decrease in losses and increase in sales.
For further information please contact: Thomas J. Mulroney, Chief Financial
Officer of Provena Foods Inc., +1-909-627-1082, fax +1-909-627-7315 CONDENSED STATEMENT
OF OPERATIONS
(Unaudited) Three Months Ended
March 31,
2005 2004 Net Sales $15,144,637 12,318,552 Cost of Sales 14,207,782 11,848,906 Gross profit 936,855 469,646 Operating Expenses:
Distribution 438,822 504,581
General and administrative 635,016 504,187 Operating loss (136,983) (539,122) Interest expense, net (193,147) (123,392)
Other Income, net 84,254 65,617 Loss before income taxes (245,876) (596,897) Income tax benefit 83,200 236,200 Net loss $(162,676) (360,697) Loss per share:
Basic and diluted $(0.05) (0.11) Shares used in computing loss per share:
Basic and diluted 3,345,664 3,219,047
DATASOURCE: Provena Foods Inc.
CONTACT: Thomas J. Mulroney, Chief Financial Officer of Provena Foods Inc., +1-909-627-1082, fax +1-909-627-7315
|