Chicago - Rymer Foods Inc. announced its financial results for the second quarter of 1998.
The Company incurred a loss from continuing operations of $.5 million or $.13 per share (basic) compared to a loss from continuing operations of $.8 million in the second quarter of 1997.
Consolidated net sales from continuing operations of $7.5 million were $1.9 million below the second quarter of 1997 primarily due to increased competition and overall lower consumer consumption in the Company's market segments. The decrease in gross profit was primarily attributable to lower volume. The Company reduced selling, general and administrative expense by $144,000 due to planned efficiencies.
Interest expense decreased by $667,000 in 1998 due to the restructuring that the Company completed in October 1997.
Rymer Foods is the holding company for Rymer Meat, a Chicago-based portion-control meat company which provides frozen, pre-seasoned meat and tailored programs to national mid-scale family restaurant chains and institutional foodservice providers.
Meat Industry Insights News Service
P.O. Box 553
Northport, NY 11768
Phone: 631-757-4010
Fax: 631-757-4060
E-mail: sflanagan@sprintmail.com
Return to Home Page