USA: Food Technology Service, Inc. reports record results
Food Technology Service, Inc. (Nasdaq:VIFL) yesterday announced record results for the year ended December 31, 2000. Revenues for the year were $1.4 million vs. $388,000 in 1999, an increase of over $1 million. The increase in revenue enabled the company to reduce its losses from $888,000 or $.09 per share in 1999 to $154,000 or $.01 per share in 2000. Operating cash flows were positive. Increased revenues resulted mainly from the irradiation of packaging materials, consumer goods and food. The company anticipates that this strong level of sales will continue well into 2001.
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