Business
CANYON CREEK FOOD COMPANY ANNOUNCES 2011 Q1 RESULTS
CANYON CREEK FOOD COMPANY ANNOUNCES 2011 Q1 RESULTS
About this update from Canyon Creek Food Company Ltd.
[{"type":"text","content":"\n\n\n\n Nov. 3, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTSXV Symbol: CYF\n\n\nEDMONTON, Nov. 3 /CNW/ - Canyon Creek Food Company Ltd., ("Canyon\n Creek") listed on the TSX Venture Exchange Inc. under the trading\n symbol "CYF" is pleased to announce its first quarter results. Listed\n below are some of the highlights.\n\n\nSALES\n\n\nCanyon Creek sales declined 12.1% in Q1, 2011 or $92,110 compared to Q1,\n 2010 ($668,110 Q1, 2011 vs. $760,220 Q1, 2010). This decrease in sales\n primarily relates to a softer consumer off take on the retail segment.\n\n\nGROSS PROFIT\n\n\nThe gross profit increased from 12.8% to 27.4 % during the first\n quarter, compared to Q1 in 2010. This gross profit increase of $85,881\n is the result of reducing the ingredient costs, labour reductions, and\n increasing product yields. The company has made significant strides on\n the operational side to control costs as demonstrated with Gross margin\n improvements.\n\n\nNET PROFIT\n\n\nThe net loss for Q1, 2011 is $195,726 compared to the loss of $296,352\n in Q1, 2010. This improvement of $100,626 is the result of great\n improvement in the gross margins as noted above. On a EBITDA basis the\n company saw significant improvement of $118,894 in Q1, 2010 vs same\n quarter previous year.  Terence Alty, President, states "Though we were\n pleased about our improvements on an operational basis, we are\n disappointed with the performance on the revenue side of the equatio...