USA: MicroBatch Reports 2nd Quarter Results
For the six months ended June 30, 2000, total sales were $784,175 versus sales of $854,288 for the prior comparable period, a decrease of 8.2%. The net loss for the six months ended June 30, 2000 was $4,120,368 versus a net loss of $857,996 for the prior comparable period. The fully diluted net loss per share for the six months ended June 30, 2000 was $1.53 versus $0.82 for the six months ended June 30, 1999.
Incoming president and chief executive officer Joe Phillips said that the decrease in sales was attributable to the company's decision not to sell ice cream outside of the company's core market in the Northeast. He added that the net loss was attributable to, among other items, marketing expenses. "While the marketing expenditures in the first half of the year were effective raising awareness of the MicroBatch® brand, they did not drive sales. Moving forward, we will be spending our dollars on revenue generation, not indirect marketing."
The statements in this news release contain forward-looking information within the meaning of the Private Securities Litigation Act of 1995. Such forward-looking statements involve certain risks, assumptions and uncertainties, including the ability to secure distribution. In each case, actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or modified) will not be realized.
Sectors: Ice cream
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