Business
Canyon Creek Food Company Ltd. Announces Fiscal 2009 Q2 Results
TSXV Symbol: CYF CALGARY, Jan. 30 /CNW/ - Canyon Creek Food Company Ltd. ("Canyon Creek"), a food...
About this update from Canyon Creek Food Company Ltd.
[{"type":"text","content":"\n\n\n\nTSXV Symbol: CYF\n\n\nCALGARY, Jan. 30 /CNW/ - Canyon Creek Food Company Ltd. ("Canyon Creek"),\na food processing company listed on the TSX Venture Exchange under the trading\nsymbol "CYF", is pleased to announce its second quarter of fiscal 2009\nresults. Listed below are some of the highlights of the quarter:\n\n\n- Sales\n\n Sales increased in Q2 vs. previous year by $203,044 or 13.2%\n ($1,732,316 compared to $1,529,272 in the prior year) this is the\n largest single quarterly revenue realized in the company's history.\n Year to date sales are up $321,043 vs. YTD 2008 or 12.4%.This\n increase in sales can be primarily traced to the further development\n with the retail business.\n\n- Gross Margins\n\n The gross profit margins have improved for Q2 significantly (23%\n vs.7.7% in Q2 year ago).We anticipate that this positive trend line\n will continue.\n\n- Net Loss\n\n The net loss for Q2 is $55,436 this compares to a $363,201 in Q2\n previous year. This is a significant improvement in light of the\n difficult economic conditions that are occurring.\n\n\nTerence Alty, President, states, "The Company will continue to primarily\nfocus on building its presence in the retail sector, which also includes the\nconvenience channel. We are pleased with the progress that the company has\nexperienced and are working towards the goal of profitability.\n\n\nCanyon Creek is a food processing company based in Calgary and Edmonton,\nAlberta providing fresh soups and other prepared food products for today's\nhealth conscious consumer. The company provides its fresh food product line to\nboth grocery retailers and a broad range of food service establishments such\nas restaurants and institutions through out Canada.\n\n\nThis news release contains forward-looking statements which involve known\nand unknown risks, delays and uncertainties not under Canyon Creek's control\nwhich may cause actual results, performance or achievements of Canyon Creek to\nbe materially different from the results, performance or expectations implied\nby these forward-looking statements.\n\n\nThis press release shall not constitute an offer to sell or the\nsolicitation of an offer to buy the securities in any jurisdiction. The\nsecurities offered have not and will not be registered under the United States\nSecurities Act of 1933, as am...