The UniMark Group, Inc. (OTC Bulletin Board: UNMG) reported yesterday a fully diluted net loss of $0.82 per share for the year ending December 31, 2000 versus a net loss of $0.97 for the previous year ending December 31, 1999. Net sales for the year ending December 31, 2000 decreased 31% to $45.2 million compared to $66.2 million for the comparable period in 1999. Company management stated that the loss for the year and the decreased sales were due to a variety of factors including: discontinuation of unprofitable product lines and product offerings, reduced wholesale club sales demand, changes in packaged fruit supply commitments, depressed worldwide pricing in citrus juice, impact of the Del Monte Foods Company transaction, write offs resulting from the Company’s operational restructuring and elimination of substantially all the Company’s U.S. retail based infra-structure.
The UniMark Group, Inc.
Year Ended December 31,
2000 1999
(In thousands, except
per share data)
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Net sales $ 45,191 $ 66,223
Loss from operations (12,330) (9,167)
Net loss (11,363) (12,996)
Loss per share
Basic and diluted $(0.82) $(0.97)
Basic and diluted weighted
average shares outstanding 13,938 13,462
UniMark President and CEO Emilio Castillo stated, “Beginning September 2000 with the Del Monte Foods Company transaction, we have made a fundamental shift in our company’s strategic direction. We believe that the anticipated increased production volume under the long-term supply agreement with Del Monte Foods Company, coupled with increased operational efficiencies should reflect a marked difference financially as we move toward profitability and meaningful growth in our packaged fruit segment during 2001. Also, we believe that our Lemon Project, which is approaching completion, should have an increasingly positive impact on long-term shareholder value.”
About The UniMark Group, Inc.
The UniMark Group, Inc. is a leading multinational grower and producer of quality citrus and tropical fruit products supplying major branded food companies in the United States and selected countries worldwide. The Company is publicly traded on the Over-the-Counter Bulletin Board under the symbol “UNMG.OB”.
Contact: Emilio Castillo, President and CEO or
David E. Ziegler, CFO/Investor Relations
817-491-2992
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By GlobalDataFurther information about UniMark may also be obtained from a number of sources via the Internet. Government filings may be accessed through www.freeedgar.com and additional information may be obtained at http://finance.yahoo.com.
NOTE: The foregoing is news relating to The UniMark Group, Inc. (the “Company”) and contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. When used in this report, the words “anticipate,” “believe,” “estimate,” “expect” and similar expressions as they relate to the Company or its management, including without limitation, the Company and its other subsidiaries, are intended to identify such forward-looking statements. The Company’s actual results, performance or achievements could differ materially from the results expressed in, or implied by these forward-looking statements. For a discussion of additional factors that may affect actual results, investors should refer to the Company’s filings with the Securities and Exchange Commission, in particular, those factors listed under “Risk Factors” in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2000. This does not constitute an offer to buy or sell securities by the Company, its subsidiaries or any associated party and is meant purely for informational purposes.
