USA: The UniMark Group, Inc. Reports Results for Year Ending December 31, 2000
The UniMark Group, Inc. (OTC Bulletin Board: UNMG) reported yesterday a fully diluted net loss of $0.82 per share for the year ending December 31, 2000 versus a net loss of $0.97 for the previous year ending December 31, 1999. Net sales for the year ending December 31, 2000 decreased 31% to $45.2 million compared to $66.2 million for the comparable period in 1999. Company management stated that the loss for the year and the decreased sales were due to a variety of factors including: discontinuation of unprofitable product lines and product offerings, reduced wholesale club sales demand, changes in packaged fruit supply commitments, depressed worldwide pricing in citrus juice, impact of the Del Monte Foods Company transaction, write offs resulting from the Company's operational restructuring and elimination of substantially all the Company's U.S. retail based infra-structure.
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