USA: Vita Foods reports Q4 sales of US$12.3m, FY sales of US$32m
Chicago-based Vita Food Products has reported consolidated net income of US$891,000, US$0.24/share, for the Q4 ended 31 December 2001, up from US$878,000, US$0.24/share, for the Q4 of 2000. The Q4 2000 included a one-time expense reduction of US$132,000, US$0.04/share, related to a settlement with the Metropolitan Water Reclamation District. In addition, the tax expense for the Q4 of 2001 was US$426,000, US$0.11/share, compared to US$106,000, US$0.03/share from the previous year. The disparity of income tax expense is due to the fact that taxes in the Q4 2000 were offset by net operating loss carryforwards. Virginia Honey contributed net income of US$267,000, US$0.07/share in the Q4 of 2001.
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