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Article: Horizon Organic Holding Corporation Reports First Quarter 1999 Results; Record Sales Up 63 Percent.
- Article from:
- Business Wire
- Article date:
- April 28, 1999
CopyrightCOPYRIGHT 1999 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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LONGMONT, Colo.--(BUSINESS WIRE)--April 28, 1999--
Horizon Organic Holding Corporation (Nasdaq: HCOW), the nation's leading producer of organic milk, announced today that its first quarter net sales were a record $16.4 million, up 63% from $10.1 million in the first quarter of 1998. Net income for the quarter was $502,000 or $.05 per basic and diluted share, compared to a loss of $115,000 or a loss of $.02 per basic and diluted share for the comparable period last year.
"Robust sales for the quarter and continuing improvements on costs due to our increasing economies of scale significantly offset the negative impact of previously announced unexpectedly ...