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Microcap & Penny Stocks : RYMER FOODS INC [RYR] SHORT TERM
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To: Barry Rost who wrote ()1/30/1999 7:45:00 AM
From: leigh aulper   of 60
 
Rymer Foods Inc. Announces 1998 Fiscal Year Results

CHICAGO, Jan. 29 /PRNewswire/ -- Rymer Foods Inc.
(OTC Bulletin Board: RFDS) announced its results for the fiscal year ended
Oct. 31, 1998.

For the fiscal year ended Oct. 31, 1998, the Company reported a loss from
continuing operations of $2.0 million or ($0.47) per share as compared to a
loss of $4.9 million in 1997 (accomplished by combining the eleven-month
period prior to restructuring and the one month after restructuring).
Included in the 1997 loss is a restructuring charge (to convert $21.5 million
of Senior Notes into equity) of $1.6 million.

The Company's gross profit decreased to $2.1 million from $3.0 million.
Management believes that the first six months results for 1998 were negatively
impacted due to the aftermath of the Senior Note restructuring. Interest
expense decreased by $2.1 million primarily due to the elimination of the
Senior Notes. Management believes that the Company's future success will
continue to be dependent upon expanding the customer base, containing costs
and maintaining relationships with its lenders.

Rymer Foods is the holding company for Rymer Meat Inc., a Chicago-based
portion-control meat company which provides frozen, pre-seasoned meat and
tailored programs to national mid-scale family restaurant chains and
institutional foodservice providers.
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