CHINO, Calif., April 3 /PRNewswire-FirstCall/ -- Provena Foods Inc. (AMEX:PZA) incurred a net loss of $451,881 on sales of $59,150,757 for the year 2005 compared to a net loss of $1,229,855 on sales of $51,809,941 for the year 2004. Sales increased at both the meat and the pasta divisions but both divisions contributed to the loss. The reduction in net loss resulted from the meat division improving from an operating loss to a small operating profit in 2005 and a reduction in the pasta division's operating loss from 2004 to 2005. Both divisions contributed to the increased sales.
CONDENSED STATEMENT Three Months Ended Twelve Months Ended
OF OPERATIONS December 31, December 31,
(Unaudited) 2005 2004 2005 2004 Net Sales $16,023,872 $13,980,767 59,150,757 51,809,941 Cost of Sales 14,694,815 13,377,026 55,611,275 49,817,990 Gross profit 1,329,057 603,741 3,539,482 1,991,951 Operating Expenses:
Distribution 374,828 397,358 1,623,898 1,674,425
General and
administrative 546,782 587,292 2,085,095 2,001,602 Operating loss 407,447 (380,909) (169,511) (1,684,076) Interest expense and
other financing
costs, net 45,852 (159,539) (580,066) (563,688)
Other Income, net (318,429) 84,671 42,051 261,237 Profit (loss)
before income taxes 134,870 (455,777) (707,526) (1,986,527) Income tax expense
(benefit) 54,400 (430,472) (255,645) (756,672) Net loss 80,470 (25,305) (451,881) (1,229,855) Profit (loss)
per share:
Basic and diluted 0.02 (0.01) (0.13) (0.38) Shares used in
computing loss
per share. Basic and diluted: 3,437,873 3,306,755 3,396,459 3,262,055 Contact: Provena Foods Inc. Tom Mulroney
Chief Financial Officer
909.627.1082
5010 Eucalyptus Ave. Chino, CA 91710
DATASOURCE: Provena Foods Inc.
CONTACT: Tom Mulroney, Chief Financial Officer of Provena Foods Inc., +1-909-627-1082
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