Sun-Rype Products Ltd. (TSX:SRF) today released its financial results for the third quarter ended September 30, 2008.
Financial Highlights
Sun-Rype's net sales in the third quarter of 2008 were $37.5 million, compared to $35.4 million in the same period in 2007. The Company had a net loss in the third quarter of 2008 of $0.8 million or $0.07 per share, compared to net earnings of $1.1 million or $0.11 per share in the third quarter of 2007.
Sun-Rype's net sales for the nine-month period ended September 30, 2008, were $92.0 million, compared to $108.0 million in the same period in 2007. The Company had a net loss for the nine-month period ended September 30, 2008, of $10.1 million or $0.93 per share, compared to net earnings of $4.8 million or $0.45 per share for the nine-month period ended September 30, 2007.
"The effects of the labour disruption that compromised Sun-Rype's abilities to manufacture, distribute and promote its products significantly impacted results for the first nine months of 2008," says David Lynn, President and Chief Executive Officer. "However, the successful launch of new products and expansion into new markets is expected to contribute to the growth of the Sun-Rype brand in the marketplace."
Sun-Rype Products Ltd., based in Kelowna, BC, is a manufacturer and marketer of 100% fruit snacks and juices 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. -- www.cnxmarketlink.com
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