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Article: Galaxy Foods Boosts Gross Margins by Over 100%; Year-End Revenues Advance by 30%.
- Article from:
- Business Wire
- Article date:
- April 14, 1998
CopyrightCOPYRIGHT 1998 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)--April 14, 1998--Galaxy Foods Company (NASDAQ:GALX) announced Tuesday preliminary gross margins in excess of 20% for the year ended March 31, 1998, an improvement of more than 100% over last year's 9.35%.
The company also realized record annual revenues of $22.5 million for the fiscal year, an increase of 30% over the previous year's $17.2 million.
Angelo S. Morini, Galaxy's president stated: "The incredible 600% increase in sales we have experienced in the Veggie brand in just one year reinforces our firm belief that we are at the leading edge of a developing megatrend. Of nature's three ...