USA: Monterey Pasta Company reports highest quarterly sales and operating profit in company history
Sales Increase Of 32% Compared to First Quarter 2000. Sales Up 8% vs. Fourth Quarter 2000. Monterey Pasta Company (Nasdaq:PSTA) yesterday reported net income for the quarter ended April 1, 2001 of $1,225,000, or $0.09 per share, on net revenues of $14,732,000, based on 14.2 million diluted shares outstanding. This compares with a net income of $1,094,000 for the quarter ended March 26, 2000, which resulted in earnings of $0.08 per share, on net revenues of $11,156,000, based on 13.6 million diluted shares outstanding. The 2001 net income number reflects full taxation for book purposes (approximately 39%), while the 2000 net income number includes only nominal taxation (approximately 6%). The Company's cash tax liability for 2001 is expected to be less than 10% of net income because of deferred tax assets, principally related to the expected benefit from utilization of net operating loss carryforwards.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- General Mills sales woes continue - analysis
- Why personalisation will take-off in US food
- Comment: Meal kits in US - don't believe the hype
- US food next wave on display at Winter Fancy Food
- Analysis: Chocolate sector's deforestation pledge
- Unilever 'lining up spreads sale'
- UK own-label firm Park Cakes sold in MBO
- Kraft Heinz cuts jobs in US, Canada
- Immigration crackdown "risk" for US dairy industry
- BRF plant suspended amid bribery allegations