USA: Provena Foods Inc. Reports Second Quarter Results
Provena Foods Inc.'s (Amex: PZA) sales were up 23% in the 2nd quarter and 22% in the 1st half, from increased sales at the meat division. The Company had a net loss of $387,763 for the 2nd quarter and $620,693 for the 1st half, compared to net earnings of $218,531 and $473,765 a year ago. The losses were caused by losses at the meat division and reduced profits at the pasta division. The losses at the meat division were caused by rising meat costs and remedial inefficiencies at the new plant.Provena Foods Inc. will pay a quarterly dividend of $.03 per share payable September 30, 2000 to shareholders of record September 10, 2000.
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