Montgomery Gourmet Foods has announced anticipated net sales of $23.7m for the fourth quarter of 2005, an increase of 57%, and full year net sales of US$85.3m, an increase of 37% on 2004 levels.
Go deeper with GlobalData
CEO Jim Williams said: “Our strong sales growth continued in the fourth quarter with increases in nearly all categories. Especially positive were our core Monterey Pasta business with sales up 37%, CIBO Naturals with sales up 29%, and Emerald Valley Organics with sales up 18%, all versus fourth quarter 2004. Our acquisitions earlier in 2005 of Sonoma Cheese and Casual Gourmet contributed US$3.5m of new sales for the quarter.”
However, earnings for the fourth quarter of 2005 are expected to be a US$0.04 loss per share, while projected full year earnings are a loss of US$0.03 per share. These earnings are an improvement on 2004 earnings, which were a US$0.09 loss per share.
Williams attributed this earnings shortfall to exceptional costs that MGF encountered throughout the year, “most of which were of a one-time nature” he said.
Commenting on prospects for 2006, Williams said: “We remain highly confident that in 2006 our company will see significant profit improvement. Now that we have a broader portfolio of products and have succeeded in accelerating sales, we intend to intensify our focus on profit growth.”
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.
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
