USA: Cuisine Solutions sees US$1.8m loss in Q3
Alexandria, Va-based Cuisine Solutions has announced a net loss of US$1.78m for its Q3 2002. The significant loss was due to the decline in US sales, said the company, which impacted distribution costs, and the ability to cover fixed production overhead costs due to the reduction in production. The company lowered costs by the reduction of personnel in Alexandria as well as to salary cuts but these cost reductions could not cover overhead cost due to the decreased sales volume during the Q3 2002. In addition to the decrease in sales demand, the company recorded an additional recognition of US$385,000 of losses in equity from the investment in Brazil as well as an amortisation of US$40,000 for web site development cost after the launch of the FIVELEAF brand in February 2002.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- 2017: three major drivers of M&A strategy
- Comment: Premier has more to ponder than Brexit
- The food market in 2017 - consumer trends and M&A
- just-food 2017 Survey - your thoughts on growth
- Food market in 2017: need-to-know US trends
- Premier Foods issues profit warning
- Nestle mum on Mead Johnson takeover talk
- UK's Bakkavor plays down IPO "speculation"
- Mondelez sells Vegemite to Bega
- Kellogg to slash 250 jobs