Sun-Rype reports Q1 2010 financial results
KELOWNA, BC, May 5 /CNW/ - Sun-Rype Products Ltd. (TSX:SRF) today released its financial results for the quarter ended March 27, 2010.
Financial Highlights
Sun-Rype's net sales in the first quarter of 2010 were $34.5 million compared to $41.0 million in the first quarter of 2009. The Company's net income the first quarter of 2010 was $0.3 million or $0.02 per share, compared to net income of $2.8 million or $0.26 per share in the first quarter of 2009.
"Lower sales of both beverage and food products in the first quarter of 2010 compared to record sales in the first quarter of 2009, combined with increased investment in marketing contributed to lower earnings in 2010 compared to the same period in 2009", says Dave McAnerney, President & CEO.
Sun-Rype Products Ltd., based in Kelowna, BC, is a manufacturer and marketer of 100% juices and 100% fruit snacks under the Sun-Rype brand. Sun-Rype is a publicly traded Canadian company with its common shares listed on the Toronto Stock Exchange under the symbol SRF.
SOURCE: CNW Newswire Press Release
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