USA: The UniMark Group, Inc. announces 2000 third quarter financial results
The UniMark Group, Inc. (Nasdaq: UNMG), a leading multinational grower and producer of quality citrus and tropical fruit products supplying major branded food companies announced today its financial results for the third quarter and nine months ended September 30, 2000. Net sales for the 2000 third quarter were $7.7 million versus sales of $14.6 million for the 1999 third quarter, a decrease of 47.3%. The net income for the 2000 period was $0.1 million or $0.01 per share, versus a net loss of $3.0 million or $(0.21) per share for the 1999 period. For the nine months ended September 30, 2000, net sales were $34.9 million versus net sales of $50.4 million for the prior comparable period, a decrease of 30.9%. The net loss for the nine months ended September 30, 2000 was $4.4 million or $(0.31) per share versus a net loss of $8.4 million or $(0.63) per share for the prior comparable period. These results include the nonrecurring gains in the three month period of 2000 resulting from the Del Monte Foods Company ("DLM") transaction ($3.1 million) and the VAT tax refund ($1.7 million), the special charge in the nine month period of 2000 associated with the losses on the abandonment of a leased facility in Mexico ($2.5 million) and the 1999 nine month period losses associated with the operating results and loss of disposal of certain operations in 1999 ($1.4 million).
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