Tofutti Brands Q3 Sales Fall 7%
Posted on: Wednesday, 14 November 2007, 09:00 CST
Tofutti Brands, a producer of non-dairy frozen desserts, has reported a decrease in net sales by 7% to $4.6 million for the third quarter of 2007 compared with $4.94 million for the same period in the previous year.
For the three-month period ended September 29, 2007, the company has reported income before taxes of $202,000 compared with $437,000 for the same period in the previous year. The company recorded net income of $127,000 ($0.02 per share on a basic and diluted basis) compared with $287,000 ($0.05 per share on a basic and diluted basis) for the third quarter of 2006.
Net sales for the 39 week period ended September 29, 2007 decreased 3% to $14.3 million compared with net sales of $15.1 million for the same period of 2006. The company has reported income before taxes of $802,000 compared with $1.1 million for the nine month period of 2006.
David Mintz, chairman and CEO of the company, said: "Our shipments continued to be affected by the disruptions caused by our transfer of novelty frozen dessert production to a new facility in the late spring. We believe that we have substantially resolved the issues concerning our production requirements and that our shipments will return to prior levels in the fourth quarter."
Source: Datamonitor
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