CHINO, Calif., Aug. 10 /PRNewswire-FirstCall/ -- Provena Foods Inc. (AMEX:PZA) had net earnings of $291,225 for the 2nd quarter and $439,344 for the 1st six months of 2006 compared to net losses of $146,615 and $321,291 a year ago. The Company's sales were up 7.6% in the 2nd quarter and up 4.7% in the 1st six months of 2006 compared to the same periods of 2005. Both the meat and the pasta divisions contributed to the net earnings and increases in sales in both periods, except for a slight decrease in the pasta division's sales in the 2nd quarter of 2006.
Contact:
Tom Mulroney
Provena Foods, Inc. (909) 627-1082 CONDENSED STATEMENT Three Months Ended Six Months Ended
OF OPERATIONS June 30, June 30,
(Unaudited) 2006 2005 2006 2005 Net Sales $15,085,316 $14,016,535 30,535,023 29,161,172 Cost of Sales 13,685,527 13,307,440 27,787,202 27,515,222 Gross profit 1,399,789 709,095 2,747,821 1,645,950 Operating Expenses:
Distribution 400,928 402,026 859,367 840,848
General and
administrative 566,413 500,555 1,209,626 1,048,622 Operating loss 432,448 (193,486) 678,828 (243,520) Interest expense and
other financing
costs, net (135,130) (181,450) (258,447) (461,546)
Other Income, net 171,203 128,621 328,337 212,875 Loss before income
taxes 468,521 (246,315) 748,718 (492,191) Income tax benefit (177,296) 99,700 (309,374) 170,900 Net loss 291,225 (146,615) 439,344 (321,291) Loss per share:
Basic and diluted 0.08 (0.04) 0.13 (0.10) Shares used in computing
loss per share. Basic and diluted: 3,502,611 3,388,265 3,485,503 3,367,082
DATASOURCE: Provena Foods Inc.
CONTACT: Tom Mulroney of Provena Foods, Inc., +1-909-627-1082
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