YoCream income falls in quarter, first half
June 22, 2010
by Eric Schroeder
PORTLAND, ORE. — Net income at YoCream International, Inc. fell 6% to $1,735,285, equal to 67c per share on the common stock, in the second quarter ended April 30, down from $1,840,331, or 80c per share, in the same period a year ago. Net sales in the quarter rose 11% to $14,061,607.
For the six months ended April 30, net income eased 6%, declining to $2,636,975, or $1.01 per share, from $2,794,898, or $1.22 per share, in the first half of fiscal 2009. Net sales rose 9% to $23,276,072.
YoCream said sales of its core frozen yogurt business grew 52% in the second quarter following a 31% increase in the first quarter.
“Frozen yogurt establishments continue to open across the nation, and the company is seeing frozen yogurt introductions as secondary menu items in establishments like delis and sandwich shops,” YoCream said. “Expanded availability of frozen yogurt is enthusiastically accepted by consumers wanting to enjoy healthy probiotic frozen desserts on a more regular basis. While the tarter profile frozen yogurts, like Original Tart (available in 7 flavors) and EuroTart are popular with many consumers, the sweeter profile frozen yogurts are still the leading sellers. Nonfat and premium sweet flavors, like Georgia Peach and Red Velvet Cake, are being enjoyed by consumers that might have traditionally favored ice cream or frozen custard.”