Galaxy Nutritional Foods, a producer of nutritious plant-based dairy alternatives for the retail and foodservice markets, has posted fully diluted earnings per share (EPS) of US$0.06 for its Q1 2003, ended 30 June, compared to a diluted loss per share of US$(0.26) year on year. The Florida-based firm posted net income US$771,925, compared to a net loss of US$(2.56m), for the same period one year-ago. Operating income for the Q1 2003 was US$1.92m versus an operating loss of US$(1.53m) year on year. About US$1.6m of the US$1.9m net operating profit was income from a non-cash benefit related to stock options and warrants.