USA: Galaxy Nutritional Foods reports better than expected 1st quarter results
Galaxy Nutritional Foods (Amex: GXY), a leading producer of nutritious plant-based dairy alternatives for the retail and foodservice markets, announced results for its first quarter ended June 30, 2001. As expected, net sales increased 5% to $11,814,790 compared with net sales of $11,256,421 a year ago. While demand for Galaxy's products continues to increase rapidly, sales growth was significantly inhibited by unanticipated delays in the installation of additional production lines during the latter part of fiscal 2001 and this first quarter ended June 30, 2001.
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