Provena Foods Inc. Reports Year 2005 Results
April 03 2006 - 8:30AM
PR Newswire (US)
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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