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Monday January 13 12:00 PM EDT
ALANCO Reports Surging Fry Guy Revenues Six Month Results
Released at Shareholder Meeting
SCOTTSDALE, Ariz., Jan. 13 /PRNewswire/ -- Alanco Environmental Resources Corp today announced at its annual
shareholders meeting in Scottsdale that the company showed profitability for the month of December 1996, completing
the first stage of Alanco's turnaround strategy, according to Alanco Chairman Dennis Schlegel.
Schlegel said, "The success ALANCO's Fry Guy program has garnered as its market reach has expanded has produced
surging revenue from food royalties." Fry Guy revenues soared from $92,500 in October to $242,000 in November, and
then to $572,000 in December. Shareholders were told the company expects higher revenues as the program continues
with its major push into the independent retail market.
"Our remarkable turnaround can be attributed to the enthusiastic reception the Fry Guy program has received in both the
corporate and independent retail markets. In December, ALANCO completed the deployment nationally of more than
1,100 Fry Guy units in Wal-Mart stores and signed an agreement with Salubre Foods International, Inc. to provide Fry
Guy Integrated Food Marketing Program and the company's trademarked, private label SGT. FRY Integrated Food
Marketing Program to the huge independent market," Schlegel said.
ALANCO reported a net loss of $836,382, or $0.025 per share on record sales of $3,435,488 for the six month period
ended on December 31, 1996, compared to a net loss of $1,195,243, or $0.04 per share, on sales of $2,881,171 for
the same period a year earlier.
Additionally, Alanco announced the completion of the second installation of its Charged Dry Sorbent Injection (CDSI)
industrial air pollution control technology in China. The project, at the Hangzhou Iron & Steel Company, the largest steel
producing factory in China's Zheijiang province, ultimately calls for the installation of four additional systems at the plant,
including two CDSI systems to be designed for new boilers.
Alanco also announced the appointment of Edward Maley to the Fry Guy post of Vice President of Sales and
Distribution for the U.S. market. Maley will be responsible for the ongoing relationship with Wal-Mart and further
opportunities to maximize the expansion of the Fry Guy Integrated Food Marketing Program. Maley, 51, was formerly
Vice President of Business Development at ACQUA di NEPI, an Italian bottled water importer, where he structured
marketing programs in the food service market and implemented a broker organization for both the retail and food
service markets. Prior to joining ACQUA di NEPI, Maley was President of the food service division of RHEA Vendors,
a $200 million Italy-based manufacturer of espresso and cappuccino equipment and gourmet coffees.
ALANCO Chairman Schlegel said, "Mr. Maley's expertise in food marketing and distribution expands an already
formidable team of experts leading the Fry Guy division and the company into profitability."
"With the addition of Maley to focus on U.S. sales, Fry Guy Executive Vice President Terry Montford will focus on
developing new international opportunities for Fry Guy, such as the agreement announced in December to export the
private label SGT. FRY food line to China," Schlegel added. "We expect initial SGT. FRY orders from China as early as
March."
The Fry Guy Integrated Food Marketing Program supplies a patented, self- ventilating fryer in a convenient counter top
unit that requires little shelf space and operates on 110-volt power. Under the private label SGT. FRY, Fry Guy provides
end users the finest quality finger food products in conjunction with prominent food suppliers as its strategic partners.
These include Tyson Foods, Anchor Foods, and the Lamb Weston division of Beatrice Foods, with cooking oil provided
by Cargill.
ALANCO ENVIRONMENTAL RESOURCES CORPORATION
CONSOLIDATED STATEMENT OF OPERATIONS
For the Six Months Ended December 31, 1996
December 31
1996 1995
Total Sales $3,435,448 $2,881,171
Net Loss $ (836,382) $(1,195,243)
Net Loss Per Share ($0.025) ($0.04)
Weighted Average
Common Share Outstdg. 33,597,497 30,086,371
SOURCE ALANCO ENVIRONMENTAL RESOURCES CORPORATION |
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