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Article: Galaxy Foods Announces Second Quarter Record Profits.
- Article from:
- Business Wire
- Article date:
- October 14, 1997
CopyrightCOPYRIGHT 1997 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)--Oct. 14, 1997--Galaxy Foods Company (NASDAQ: GALX), makers of healthy cheese and dairy-related products, today announced record net profit of $125,392 for the quarter ended Sept. 30, 1997, compared to a net loss of $89,942 for the same quarter in the previous year.
The company also announced an enhanced gross margin of 24.9% for the quarter, an improvement of 50% over the same quarter in the previous year. Sales for the six months ended Sept. 30, 1997 increased 28.6% to $10,915,451 as compared to $8,488,436 for the corresponding period in the prior year.
Angelo S. Morini, Galaxy's president stated, "The return to ...