USA: Horizon Organic Holding Corp. reports fiscal 2000 results; revenues rise more than 50 percent to $127 million
Horizon Organic Holding Corporation (Nasdaq: HCOW), the nation's leading producer of organic dairy products, announced yesterday results for its fourth quarter and fiscal year ended December 31, 2000. Net sales for the fourth quarter reached $37.8 million, an increase of more than 50 percent over the fourth quarter of 1999. The company previously announced there would be a charge taken during the fourth quarter of 2000 to restructure its United Kingdom operations. This charge amounted to $203,000 after tax. Including this charge, the company reported a net loss in the fourth quarter of $579,000 or $0.06 per diluted share versus a net loss of $527,000 or $0.05 per diluted share for the comparable period a year ago. Net income before the restructuring charge was a loss of $376,000 or $0.04 per diluted share, which includes earnings per share of $0.02 for U.S. operations combined with a loss of $0.06 in the U.K.
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