YoCream income climbs 29% in '09
February 1, 2010
by Eric Schroeder
PORTLAND, ORE. — YoCream International, Inc. posted net income of $5,638,771, equal to $2.31 per share on the common stock, in fiscal 2009 ended Oct. 31, up 29% from $4,379,666, or $1.99 per share, in fiscal 2008. The company, which makes frozen yogurt, desserts and beverages under the YoCream, Fruitquake, Jolly Rancher, Bubble Yum, Twizzlers, Ice Breakers and Jarritos brand names, had fiscal 2009 sales of $50,732,601, up 18% from $42,971,072 in fiscal 2008.
YoCream said frozen dessert sales during the year rose 30% to $41,873,000, boosted by exceptional growth in the company’s core frozen yogurt products.
“Renewed demand for frozen yogurt has emerged from California and is growing rapidly in the Northeast, Southeast, Southwest, and Midwest as well as in international markets,” YoCream said. “Many of the smaller regional chains have and are expanding to other areas of the country. Frozen yogurt shops, especially self serve, are becoming destination points for consumers of all demographics. Most shops offer 10 to 20 soft flavors.
“YoCream was prepared to meet this demand with a high quality, diverse product line: Sweet profile frozen yogurts, including the Hershey’s branded flavors; tart profile frozen yogurts; no-sugar-added frozen yogurts; sorbet, ice cream and frozen custard. More than 70 YoCream soft serve products allow operators to present an array of flavors that appeal to consumers of all ages and genders in every region of the country. And the company’s innovative activities continue — YoCream is in development on creative new products with potential customers in different market segments, like quick-service restaurants and health care.”