Overhill Farms sustains losses in fiscal 2Q
Dec 1, 2003 12:00 PM
Overhill Farms Inc, which has nationwide operations in the frozen food industry, announced operating results for its second quarter ended March 30, 2003.
For the second quarter of fiscal 2003, Overhill reported revenues of $33,428,000, a decrease of $675,000 (2%) from revenues of $34,103,000 in the same period the year before.
Gross profit for the second quarter of fiscal 2003 fell $1,450,000 to $3,735,000 in the current year from $5,185,000 for the same period a year ago. Gross profit as a percentage of net revenues dipped to 11.1% for the second quarter of fiscal 2003 from 15.2% for the same period a year earlier.
The company attributes this drop mainly to manufacturing-related inefficiencies regarding the plant consolidation to a larger, more efficient facility in Vernon CA.
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