Fresh Brands sprouts signs of profitability
Nov 5, 2004 11:34 AM, from staff and wire reports
Fresh Brands Inc reported $0.6 million of income from continuing operations for its third fiscal quarter ended Oct 9, 2004, compared with $1.0 million for the same period in 2003. For the first three quarters of 2004, the company realized a loss from continuing operations of $0.2 million, versus income from continuing operations of $5.5 million for the year-ago period.
Net income for the third quarter of 2004 was $0.3 million, compared with $0.7 million for the third quarter of 2003. For the first three quarters of 2004, the company had a net loss of $3.5 million in contrast to net income of $4.3 million for the same period a year earlier. Net sales for the third quarter of 2004 totaled $154.3 million, an increase of $14.7 million, or 10.5%, compared with the third quarter of 2003.
“We are pleased to report a profitable quarter after the last few quarters, each of which have been adversely impacted by various charges related to the closure or sale of several corporate and franchise stores,” said Louis Stinebaugh, Fresh Brands president and chief operating officer.
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