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Article: Galaxy Foods reports rapid growth in 1st quarter revenues.
- Article from:
- Business Wire
- Article date:
- July 30, 1996
CopyrightCOPYRIGHT 1996 Business Wire. 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.--(BUSINESS WIRE)--July 30, 1996--Galaxy Foods Co. (NASDAQ:GALX) Tuesday announced sales of $3,354,980 for the company's first quarter ended June 30, 1996, up 343% from sales of $757,579 for first quarter ended June 30, 1995.
Gross profit for the first quarter was $403,364 versus $85,915 for the comparable quarter a year ago, representing a 369% increase. Due primarily to the reasons stated below, the net loss for the quarter ended June 30, 1996 was $439,232 or $.01 per share (based on the weighted average number of shares of Common Stock outstanding on June 30) versus a loss of $432,160 or $.03 per share for first quarter ended June 30, 1995.
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