USA: Provena Foods Inc. reports fourth quarter results
Provena Foods Inc. (Amex: PZA) had a net loss of $878,121 on net sales of $27,309,361 for the year 2000 compared to net earnings of $38,096 on net sales of $20,627,542 for 1999. Net earnings for the 4th quarter of 2000 were $27,596 compared to $77,528 for the 4th quarter of 1999. Both divisions operated at a loss for the year but at a modest profit for the 4th quarter. The sales increase is attributable to the meat division, which reduced its operating loss by almost $2,000,000 and increased its sales by 62% from 1999 to 2000, the first full year of operations of the new meat plant.
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