US frozen dessert company Yocream International has reported first quarter sales up 1.6% at $3,506,000, but high marketing and selling expenses meant an increased loss in the quarter, ended 31 January 2005.
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“Frozen yogurt sales increased 17.5% due to continued growth in wholesale club, healthcare/institutions, and other foodservice sectors,” stated Douglas Caudell, CFO. “This offset the decreases in sales of Coffee Latte Freeze, which was discontinued in 2004, and 5% ice cream, because a Midwest restaurant chain elected not to renew its contract that ended in December 2004.”
Net loss for the quarter was $68,700, compared with a net loss of $8,500 for the same period last year. “As expected, selling and marketing expenses were higher in the first quarter of 2005 compared to 2004,” said Tyler Bargas, director of sales.
