CHINO, Calif., Nov. 10 /PRNewswire-FirstCall/ -- Provena Foods Inc. (AMEX:PZA) incurred a net loss of $211,060 for the 3rd quarter and $532,351 for the 1st nine months of 2005 compared to net losses of $545,091 and $1,204,550 a year ago. The Company's sales were up 2% in the 3rd quarter and 14% in the 1st nine months of 2005 compared to the same periods of 2004. Both the meat and the pasta divisions contributed to the decreases in losses and increases in sales in both periods, except that in the 3rd quarter of 2005, the meat division's sales were down 1% and the pasta division's loss was up 4%.
CONTACT: Thomas J. Mulroney, Chief Financial Officer (909) 627-1082 CONDENSED STATEMENT Three Months Ended Nine Months Ended
OF OPERATIONS September 30, September 30,
(Unaudited) 2005 2004 2005 2004 Net Sales $13,965,713 13,708,284 43,126,885 37,829,174 Cost of Sales 13,401,238 13,303,983 40,916,460 36,440,964 Gross Profit 564,475 404,301 2,210,425 1,388,210 Operating Expenses:
Distribution 408,222 367,058 1,249,070 1,277,067
General and
administrative 489,691 433,067 1,538,313 1,414,310 Operating loss (333,438) (395,824) (576,958) (1,303,167) Interest expense and
other financing costs,
net (164,372) (154,098) (625,918) (404,149)
Other Income, net 147,605 64,131 360,480 176,566 Loss before income
taxes (350,205) (485,791) (842,396) (1,530,750) Income tax expense
(benefit) (139,145) 59,300 (310,045) (326,200) Net loss $(211,060) (545,091) (532,351) (1,204,550) Loss per share:
Basic and diluted $(0.06) (0.16) (0.16) (0.36) Shares used in
computing loss
per share:
Basic and diluted 3,412,842 3,398,272 3,382,503 3,346,043
DATASOURCE: Provena Foods Inc.
CONTACT: Thomas J. Mulroney, Chief Financial Officer of Provena Foods Inc., +1-909-627-1082
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