USA: Decrease in the selling price of cheese on the American market affects revenues and net earnings of the third quarter of Fiscal 2001
Saputo Inc announced today its financial results for the third quarter of 2001, ended December 31, 2000. During this quarter, the Company had to contend with a substantial devaluation of its inventories due to the significant decrease in the average selling price per pound of cheese on the American market. In fact, it fell to its lowest level in ten years. The ongoing improvement in the Company's manufacturing processes and the synergies developed in the normal course of activities could not fully offset the negative impact of the low average selling price per pound of cheese.
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