Cuisine Solutions Announces Second Quarter Revenue Growth of 79.8% Versus Previous Year
ALEXANDRIA, Va., Jan. 06 /PRNewswire/ -- Cuisine Solutions (OTC Bulletin Board: CUIS - news) announced today that fiscal year 2000 second quarter revenues are $8,701,000, up 79.8% versus previous year revenues of $4,837,000.
Revenue for the second quarter included revenue from the recently completed acquisition of the sous vide manufacturer Nouvelle Carte.
Revenue for the second quarter of FY2000 is as follows:
Second Second Change % Change
Quarter FY00 Quarter FY99
Cuisine Solutions
USA 5,783,000 4,013,000 1,770,000 +44%
Cuisine Solutions
Norway 765,000 824,000 -59,000 -7%
Total Non-France
Revenue 6,548,000 4,837,000 1,711,000 +35%
Cuisine Solutions
France 2,453,000 2,262,000 191,000 +8%
Norway Sales to
France (300,000) (195,000) 106,000 +54%
Total Consolidated
Revenue 8,701,000 6,904,000 1,797,000 +26%
Norway sales to Nouvelle Carte have become inter-company shipments and have been backed out of both the current and previous year sales under the line Norway Sales to France.
Revenue from the French subsidiary in local currency increased 23.6% from FRF 12,710,000 in fiscal year 1999 to FRF 15,707,000, an increase of 2,997,000. The increase in local currency revenue was decreased by the currency exchange rate when converted to US dollars.
``Cuisine Solutions continues to experience strong sales growth in the On Board Services channel,' says Stanislas Vilgrain, Cuisine Solutions CEO. ``And, the Lodging/Food Service Channel experienced aggressive growth despite numerous cancellations of major millennium events across the United States.'
Headquartered in Alexandria, Va., Cuisine Solutions is an award-winning |
