USA: TOFUTTI announces increased sales and operating and net income
TOFUTTI BRANDS INC. (Amex: TOF) yesterday announced improved results for the fifty-two week period ended December 30, 2000. Net sales for the fifty-two weeks ended December 30, 2000 increased 12% to $13,343,000 compared with net sales of $11,912,000 for the fifty-three weeks ended January 1, 2000. For the fifty-two weeks ended December 30, 2000, the Company reported an increase in operating income to $1,465,000 as compared with operating income of $1,424,000 for the comparable 1999 period. The Company's operating results were negatively impacted during the fifty-two week period ended December 30, 2000 as a result of new product start-up costs, including costs incurred at new co-packaging locations and higher packaging and freight charges. The Company expects that during 2001 its operating expenses will continue to be affected by these same factors.
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