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Microcap & Penny Stocks : RYMER FOODS INC [RYR] SHORT TERM
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To: Barry Rost who wrote ()6/11/1999 3:36:00 PM
From: leigh aulper   of 60
 
Rymer Foods Inc. Announces Second Quarter Results
CHICAGO, June 9 /PRNewswire/ -- Rymer Foods Inc. (OTC Bulletin Board: RFDS - news) announced its financial results for the second quarter of 1999.

The Company incurred a net income from continuing operations of $137,000 or $.03 per share (basic) in the second quarter of 1999 compared to a loss from continuing operations of $549,000 in the second quarter of 1998.

Consolidated net sales from continuing operations of $11.1 million were $3.6 million higher than second quarter of 1998 primarily due to the Company's expansion of its customer base and the acquisition of a complementary line of business. The increase in gross profit was primarily attributable to higher volume. Selling, general and administrative expense increased by $87,000 due to increased sales.

Interest expense increased by $40,000 in 1999 as compared to 1998 due to increased borrowings to support increased sales.

Mr. P. Edward Schenk, Chief Executive Officer of Rymer, made the following comments regarding the Company's operations. ''During the second quarter, the Company has continued to emphasize operational efficiency and customer service. I believe that the continued diversification of the Company's market segments is the key to the Company's future success.''

Mr. Edward Hebert, President of Rymer had the following comment regarding the results of the second quarter of 1999. ''The second quarter results were reflective of the Company's push to expand its customer base with its commitment to emphasize quality.''
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