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Non-Tech : Natural/Health Food Industry Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Beltropolis Boy who wrote (145)	1/4/1999 11:48:00 AM
From: Luce Wildebeest	Read Replies (1) \| Respond to of 337

United Foods Inc Q3 net rises BELLS, Tenn., Jan 4 (Reuters) - UNITED FOODS INC. COMPARATIVE SUMMARY OF OPERATIONS (UNAUDITED) (AMOUNTS IN THOUSANDS EXCEPT PER SHARE AMOUNTS) For the Three Months For the Nine Months Ended Nov. 30, Ended Nov. 30, 1998 1997 1998 1997 Revenues $ 55,525$ 51,407 $151,347 $140,949 Cost and Expenses (Note A) 53,429 50,158 147,797 138,847 Operating Income 2,096 1,249 3,550 2,102 Other Income and (Expense): Interest Expense - Net (1,023) (1,084) (2,855) (2,870) Miscellaneous Income - Net 1 11 5 52 Total Other Income and (Expense) (1,022) (1,073) (2,850) (2,818) Income (Loss) Before Income Tax Benefit 1,074 176 700 (716) Income Tax Expense (Benefit) (Note B) 413 68 269 (275) Net (Loss) 661 108 431 (441) Basic and Diluted Earnings (Loss) Per Share of Common Stock (Note C): .10 .02 .06 (.05) NOTES: (A) Substantially all of the Company's inventories are valued at the lower of cost (first-in, first-out) or market at each fiscal year-end. However, due to the seasonality of vegetable processing, the gross profit method, at the estimated annual rate, is used to determine frozen vegetable cost of goods sold in interim financial statements. (B) Taxes on income consist of the current and deferred taxes required to be recognized for the periods. (C) Basic and diluted earnings (loss) per share of common stock have been computed based upon the weighted average number of shares outstanding during the three and nine months ended November 30, 1998 and November 30, 1997. (D) On September 16, 1998, the Company received an offer from its chairman and chief executive officer, James I. Tankersley, and his family to acquire the remaining shares of the company's common stock that are not already owned by Tankersley, his wife or his children ("the Tankersley Group") for $3.00 per share. On receiving the proposal, the Board of Directors of the Company appointed two outside directors to a special transaction committee. The Board designated the committee for the purpose of evaluating and making recommendations with respect to the proposal. The special transaction committee and the Tankersley Group are currently in negotiations regarding the proposal.