CANADA: Leading Brands, Inc. announces record first quarter net income $0.09cdn per share
Leading Brands, Inc. (Nasdaq:LBIX), Canada's largest independent, fully integrated brand management company is pleased to announce record revenues and profits for its fiscal first quarter ended May 31, 2001. The Company reported net income for the period of $1,181,000Cdn ($760,000US) or $0. 09Cdn ($0.06US) per share, compared to net income of $807,000Cdn ($546,000US) or $0.09Cdn ($0.06US) per share in the same period of last year. Revenues for the first quarter were $20,126,000Cdn ($12,964,000US), versus $22,099,000Cdn ($14,939,000US) for the first quarter of 2000. The reduction in revenue for the quarter was a reflection of the transition of the Company's relationship with SoBe from a distributor to a co-packer. The Company's other business remained strong, and indeed grew.
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