Hi WJ,
I'll tell ya this SHD management is really doing a heck of a job growing this company...
quote.yahoo.com
Tuesday April 24, 7:50 am Eastern Time
Press Release
Sherwood Brands Expects Fiscal 2001 Third Quarter
Net Income of About $0.08 Per Share vs. a Loss of $0.05
Expects Record Nine Month Net Income of About $0.71 Per Share vs. $0.18 (Before Gain)
ROCKVILLE, Md.--(BUSINESS WIRE)--April 24, 2001-- Sherwood Brands, Inc. (AMEX:SHD - news), a manufacturer, marketer and
distributor of branded confectionery products and gift items, announced today that it expects to report net income for the third
quarter of fiscal 2001 ending April 30, 2001 of approximately $0.08 per diluted share on revenue of approximately $14 million.
For the third quarter of fiscal 2000, Sherwood reported a net loss of $0.05 per share on revenue of $14.4 million. The Company
expects to report third quarter results in a few weeks.
For the first nine months of fiscal 2001, Sherwood expects to report record earnings of approximately $0.71 per diluted share on
record revenue of approximately $54 million, more than 44% ahead of the same period last year and matching the Company's
earlier expectations of revenue for the full fiscal year. For the first nine months of fiscal 2000, Sherwood reported net income of
$0.18 per diluted share (before a one-time gain) on revenue of $37.4 million.
``By steadily expanding our lines of branded candies and gift items on the one hand, and our roster of national retail accounts
and distributors on the other, Sherwood is producing consistently strong performance that meets or exceeds our expectations.
We expect this internally-generated growth to continue in fiscal 2002, especially in new product lines. In addition, following the
successful integration of E. Rosen Company, which we acquired out of bankruptcy in 1998, we are hoping to complete another
major acquisition in calendar 2001,'' said President and Chief Executive Officer Uziel Frydman.
Frydman said that Sherwood's newest assembly plant in New Bedford, Mass., is fully operational and is delivering the margins
the Company anticipated. He added that the Company is optimistic about the potential positive impact of the programs
implemented earlier this year to stimulate sales in the fiscal fourth quarter, which is seasonally the slowest period in the industry.
About Sherwood Brands
Sherwood Brands, Inc., headquartered in Rockville, Md., manufactures, markets and distributes confectionery products. The
Company's branded products include COWS®, a line of soft and chewy toffees and dairy butter and cream hard candies;
RUGER® wafers, a line of wafer cookies in chocolate, vanilla and strawberry flavors; ELANA®, Belgian chocolate bars; and
demitasse®, a line of tea biscuits in a variety of flavors. Sherwood also manufactures hard candies, jelly beans, ALIEN® and
TONGUE TATTOO® lollipops and packs gift baskets and gift items in its facilities in Rhode Island and Massachusetts.
Forward-Looking Statements
This press release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements are based on current expectations, estimates and projections about the company's
business based, in part, on assumptions made by management. These statements are not guarantees of future performance and
involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ
materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including but not
limited to the following: changes in demand for the company's products, product mix, the timing of customer orders and
deliveries, the impact of competitive products and pricing, constraints on supplies of critical raw materials, excess or shortage of
production capacity, and other risks discussed from time to time in the company's Securities and Exchange Commission filings
and reports. In addition, such statements could be affected by general industry and market conditions and growth rates, and
general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which
they are made and the company does not undertake any obligation to update any forward-looking statement to reflect events or
circumstances after the date of this release.
Contact:
Sherwood Brands, Inc.
Uziel Frydman, 301/309-6161
or
Berkman Associates
Neil G. Berkman, 310/277-5162
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