USA: Food Technology Service sees H1 sales drop
Mulberry, Florida-based Food Technology Service (FTS), a commercial food irradiation firm, has announced total sales of US$662,314 for the H1 2002 ended 30 June, down about 6% year on year.
The company reported a loss of US$104,016 for the H1 2002 compared to a profit of US$92,838 during the same period in 2001.
CEO Dr. Richard Hunter explained: "The reduced earnings reflect the temporary departure of one of our non-food customers that uses our services on an intermittent basis.
"Although they did not require our services during the Q2, they have already notified us that they will return during the Q1 2003. In addition, we had increased expenses related to the launch of our I-CARE FOODS brand of irradiated foods as well as some one-time maintenance and security up-grades."
FTS chairman Tom Daw added: "While we are disappointed by the reduced earnings, we are encouraged by growth in our core business of food irradiation."
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