US dairy-free firm Tofutti Brands has booked a net first-quarter loss as a result of restructuring works hitting production and hampered sales in a “disappointing” start to the year.

Tofutti yesterday (16 May) booked a net loss for the period of US173,000 compared to a profit of $130,000 in the corresponding period a year-ago period.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The company also booked a first-quarter operating loss of $162,000, versus operating income of $141,000 for the comparable 2016 period.   

Group sales for the period were $3.2m compared to $3.7m previously.

Tofutti said its performance was down to a fall in sales of frozen desserts and frozen foods, which dropped to $655,000 in the first quarter compared to $1.02m in the year ago period.

See Also:

Tofutti said sales of its frozen dessert and food products were negatively impacted by “production and shipping issues” at its frozen desserts novelty plant as it undergoes a major physical restructuring programme.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The company said although it expects the restructuring programme to be completed in the second quarter of this year, it is in the process of securing an additional facility to produce some of its frozen novelty products. 

Sales of soy-cheese products also declined marginally in the first quarter to $2.63m from $2.72m previously, with the fall attributed principally to lower export sales.

Chairman and CEO David Mintz said: “While we are disappointed in our financial results in the first quarter, we believe that we are on the right track to produce consistent profitable operations in the future.”