Suprema Specialties, Inc. (Nasdaq: CHEZ) announces consolidated net sales for the fiscal year ended June 30, 2000 of approximately $278 million as compared to approximately $176 million for the fiscal year ended June 30, 1999. In addition, Suprema also announces net income of approximately $6.4 million for fiscal 2000, as compared to net income of approximately $4.2 million for fiscal 1999.
The 58% increase in net sales is due primarily to the increased volume of cheese sales to the foodservice market and continued growth in sales to food manufacturers.
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The 52% increase in net income is due primarily to an increase in operating income, which is a result of increased sales volume.
Suprema Specialties, Inc. manufactures, shreds, grates and markets gourmet all natural Italian variety cheeses under the Suprema Di Avellino® brand name as well as under private label. Suprema’s product lines consist primarily of domestic mozzarella, ricotta and provolone cheeses, grated and shredded parmesan and romano cheeses, and imported parmesan and pecorino romano cheeses, including “lite” versions of certain of these products containing less fat, and fewer calories. The Company operates facilities in New Jersey, New York and California. The Company supplies cheeses to foodservice, retail, and food manufacturing companies.
For Further Information about the Company, Please Visit: www.supremachez.com.
The information provided in this Press Release contains forward-looking statements that involve risks and uncertainties more fully set forth in the Company’s filing. The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. Statements made in this Press Release that are not historical facts are forward looking statements that are subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. The Company’s actual results could differ significantly from those discussed and/or implied herein.
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