YoCream income soars in third quarter, nine months
August 27, 2008
by Eric Schroeder
PORTLAND, ORE. — YoCream International, Inc., a manufacturer and wholesaler of frozen desserts and beverages, posted third-quarter net income of $1,924,333, equal to 87c per share on the common stock, up 284% from $501,007, or 24c per share, in the same period a year ago. Net sales in the quarter ended July 31 were $15,152,365, up 51% from $10,021,957.
"We are enjoying considerable growth in major markets across the U.S.," said Tyler Bargas, director of sales. "YoCream continues to nationally lead the away-from-home frozen yogurt and beverage category with a firm knowledge of the customer base and well-executed sales strategies."
Suzanne Gardner, director of marketing, said the company just completed a consumer taste test and plans to roll out seven frozen yogurt flavors within the YoCream Select line. She also said the company will introduce five new frozen beverage flavors at the National Association of Convenience Stores Show in Chicago on Oct. 5.
For the nine months ended July 31, net income was $2,933,625, or $1.34 per share, up 369% from $625,396, or 30c per share, in the same period a year ago. Net sales were $29,630,827, up from $20,771,007.