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Article: Lincoln Foodservice Products announces first-quarter results; special board committee continues strategic financial study.
- Article from:
- PR Newswire
- Article date:
- April 30, 1990
CopyrightCOPYRIGHT 1990 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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LINCOLN FOODSERVICE PRODUCTS ANNOUNCES FIRST QUARTER RESULTS;
SPECIAL BOARD COMMITTEE CONTINUES STRATEGIC FINANCIAL STUDY
FORT WAYNE, Ind., April 30, /PRNewswire/ -- Lincoln Foodservice Products, Inc. (NASDAQ: LINN) today announced operating results for the first quarter ended March 31, 1990. Net sales in the 1990 first quarter were $11,096,000 compared to 1989 first-quarter net sales of $11,750,000. Net income was $42,000, or $.01 per share, compared to 1989 first-quarter net income or $235,000, or $.07 per share.
The reduction in sales on a quarter-to-quarter basis is primarily a result of a one-time $1 million pizza pan order reflected ...