Cuisine Solutions Announces Fiscal Year 2000 Annual Revenue And Continued Growth of the Company
ALEXANDRIA, Va., July 17 /PRNewswire/ -- Cuisine Solutions (OTC Bulletin Board: CUIS - news) announced today that fiscal year 2000 annual revenues are $35,500,000 up 73% versus previous year's annual revenues of $20,700,000.
Revenue for fiscal year 2000 included revenues from July 1, 1999 through June 30, 2000 from the fiscal year 2000 acquisition of the sous vide manufacturer Nouvelle Carte located in Northern France.
The final sales results are as follows;
Fiscal Fiscal Change % Change
Year 2000 Year 1999
Cuisine
Solutions USA 24,300,000 16,500,000 7,800,000 + 47%
Cuisine Solutions
Norway 3,900,000 3,700,000 200,000 +5%
Management Fees -0- 500,000 (500,000) - 100%
Total Non-France
Revenue 28,200,000 20,700,000 7,500,000 + 36%
Cuisine Solutions
France 8,400,000 6,900,000 1,500,000 +22%
Norway Sales
to France (1,100,000) (600,000) (500,000) +83
Total Consolidated
Revenue 35,500,000 27,000,000 8,500,000 +31%
During fiscal year 2000, Cuisine Solutions, Inc., acquired Cuisine Solutions France. The figures presented reflect sales with and without the French acquisition. The acquired French subsidiary also purchased product from Cuisine Solutions Norway, so numbers have been presented to show changes and impact of inter-company shipments.
``The fiscal year 2000 top line performance was very close to our annual budget and we anticipate similar growth for Fiscal 2001'', says Stanislas Vilgrain, President and CEO of Cuisine Solutions. ``Raw salmon cost increases that have negatively impacted earnings during the year have started to decline and the Company expects improved margins on this popular Cuisine Solutions product line for fiscal 2001.'' |
