The UniMark Group, Inc. (Nasdaq: UNMG), specialty producer and marketer of citrus and tropical fruit products, announced today that the Company has filed a request for extension for filing of its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2000.
On August 31, 2000 the Company completed the sale to Del Monte Company (NYSE: DLM), of the rights to its Sunfresh® brand, its McAllen, Texas distribution center including certain inventory, other intellectual property and property and equipment associated with the Sunfresh® brand. The Company is still analyzing the impact of this transaction on its consolidated financial position and results of operations. As a result, the Company has been unable to compile all the information needed to be reflected in the September 30, 2000 Form 10-Q in a timely manner without unreasonable effort or expense.
Currently, the Company believes that because of the gain resulting from the Del Monte transaction and a nonrecurring gain resulting from a Mexican tax refund, results of operations for the three months ended September 30, 2000 are anticipated to be more favorable than the net loss for the three months ended September 30, 1999.
The Company currently anticipates the filing of its Form 10-Q for the quarterly period ended September 30, 2000 to occur no later than November 20, 2000.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward- looking statements are based on current expectations or beliefs including, but not limited to, statements concerning the Company’s operations and financial performance and condition. For this purpose, statements of historical fact may be deemed to be forward-looking statements. The Company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the impact of competitive products and pricing; Market conditions and weather patterns that may affect the cost of raw material as well as the Market for the Company’s products; risks related to product liability and recall; changes in the Company’s business environment, including actions of competitors and changes in customer preferences; dependence on key management; changes in governmental laws and regulations, including income taxes; economic, political and social conditions in Mexico; exchange rate fluctuations and inflation; labor relations and costs; market demand for new and existing products; and other factors as may be discussed in the Company’s Report on Form 10-K for the year ended December 31, 1999, those factors listed under “Risk Factors” in the Company’s prospectus dated June 14, 1998 and other reports filed with the Securities and Exchange Commission.