TFFI
Technology Flavors & Fragrances, Inc. (TFF) develops, manufactures and markets flavors and
fragrances that are incorporated by its customers into a wide variety of consumer and institutional
products, from naturally and artificially flavored beverages, to dairy products, foods, confectionery,
tobaccos, colognes, soaps, detergents, health and beauty products, aromatherapy candles and
household cleaners.
TFF has developed a library of approximately 35,000 proprietary flavor and fragrance product
formulations. This library, along with creative and skilled technical staff, modern laboratory and
manufacturing facilities and a commitment to excellence, enables TFF to provide customer service
second to none. The Company believes that providing customers with innovative ideas, unique
products and excellent customer service will allow TFF to reach its goal of becoming a uniquely
recognized company in the flavor and fragrance industry.
TFFI develops, manufactures and markets flavors, fragrances and seasonings for use in natural and
artificial flavored beverages, confections, foods, tobaccos, perfumes, pharmaceuticals and health and
beauty products. For the nine months ended 9/30/98, net sales fell 33% to $10.5 million. Net loss
from continuing operations totalled $3.1 million vs. an income of $929 thousand. Results reflect a
decrease in demand for a new product line and $2 million in write-downs and other charge
Results reflect a
decrease in demand for a new product line and $2 million in write-downs and other charge
This may explain why the stock has not performed as well as late looks like they might be in a transition period right now and it might hurt earnings for a short period of time as there new product line is not living up to expectations right now. Hopefully they can fix this problem short term if so stock will appreciate nicely for you.
12.4 million shares outstanding
5.7 million float according to Yahoo
The Company believes it has adequate capital to fund current operations until March 31, 1999. The
term of the 1997 Credit Facility expires on March 31, 1999, and the Company may be required to
obtain additional financing in order to continue its operations or otherwise. The Company is in the
process of obtaining a letter of intent with another lender regarding a three-year $4.0 million credit
facility to refinance its existing revolving credit facility. The closing of the new credit facility would be
subject to numerous closing conditions, including a customary lender audit review, an appraisal and
final credit approval. There can be no assurance that additional funds will be available when needed,
or if available, will be on favorable terms or in the amounts required by the Company. If adequate
funds are not available to the Company when needed, it may be required to delay, scale back or
eliminate some or all of its operations, which could have a material adverse effect on the Company's
business, results of operations and prospects.
This might be whats hampering TFFI stock price at the moment seems like they have a dept problem right now that needs to resolved soon.
for furthur info heres TFFI thread on SI
Subject 24741
SEC filings
edgar-online.com
All and all Toshio if this stock can over come its dept problems and start to turn is sales around in 1999 this stock could be a winner IMHO. They just hired a new investor realtions firm so maybe good things are in the works and will be announced soon. I rate it as a long term Hold for now.
Goodluck with your investment
David |
