Provena Foods Inc. Reports First Quarter Results
May 10 2006 - 7:30AM
PR Newswire (US)
CHINO, Calif., May 10 /PRNewswire-FirstCall/ -- Provena Foods Inc.
(AMEX:PZA) had net earnings of $148,119 for the 1st quarter of 2006
compared to a net loss of $162,676 a year ago. The Company's sales
were up 2% in the 1st quarter compared to the same period of 2005.
Both the meat and pasta divisions contributed to the increase in
profits and increase in sales. CONDENSED STATEMENT Three Months
Ended OF OPERATIONS March 31, (Unaudited) 2006 2005 Net Sales
$15,449,707 15,144,637 Cost of Sales 14,101,675 14,207,782 Gross
profit 1,348,032 936,855 Operating Expenses: Distribution 458,439
438,822 General and administrative 643,213 635,016 Operating profit
(loss) 246,380 (136,983) Interest expense, net (123,317) (193,147)
Other Income, net 157,134 84,254 Earnings (loss) before income
taxes 280,197 (245,876) Income tax benefit (expense) (132,078)
83,200 Net earnings (loss) $148,119 (162,676) Earnings (loss) per
share: Basic and diluted $0.04 (0.05) Shares used in computing
earnings (loss) per share: Basic and diluted 3,468,205 3,345,664
Contact: Thomas J. Mulroney, Chief Financial Officer 909.627.1082
DATASOURCE: Provena Foods Inc. CONTACT: Thomas J. Mulroney, Chief
Financial Officer of Provena Foods Inc., +1-909-627-1082
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