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Article: GALAXY FOODS FIRST QUARTER NUMBERS SHOW SHARE LOSS DECREASE; GALAXY PRESIDENT MORINI LEADING NATIONAL SALES DRIVE
- Article from:
- PR Newswire
- Article date:
- August 11, 1995
CopyrightCOPYRIGHT 1995 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ORLANDO, Fla., Aug. 11 /PRNewswire/ -- Galaxy Foods Company (Nasdaq: GALX), reported that sales for the first quarter ending June 30, 1995 were $757,579, with a net loss per share of ($.03), as against the first quarter 1994 share loss of ($.07) per share.
Angelo Morini, President of Galaxy Foods, said, "The first quarter reflects our prior lack of capital to fill orders. Our recent $12.1 million fund raising has left us free of long-term debt. We've now got the money to increase inventories so we can ship product and rebuild our customer base."
Morini said, "Our weekly overhead has been cut from $92,000 a week to $42,000. Since March 31, we've reduced our ...