Provena Foods Inc. Reports First Quarter Results
May 13 2005 - 7:30AM
PR Newswire (US)
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
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