Business
Canyon Creek Food Company LTD. Announces Q2 Fiscal 2008 Results
CALGARY, Feb. 4 /CNW/ - Canyon Creek Food Company LTD ("Canyon Creek") a food processing company ...
About this update from Canyon Creek Food Company Ltd.
[{"type":"text","content":"\n\n\n\nCALGARY, Feb. 4 /CNW/ - Canyon Creek Food Company LTD ("Canyon Creek") a\nfood processing company listed in the TSX Venture Exchange under the trading\nsymbol "CYF" announces Q2 of Fiscal 2008 results. Listed below are some of the\nhighlights of the quarter.\n\n\nSales\n\n\nCanyon Creek's sales increased by 37% in Q2 of fiscal 2008 versus Q2 in\nfiscal 2007. This increase in sales can be primarily traced to the further\ndevelopment with the retail business and seasonality.\n\n\nGross Profit\n\n\nThe gross profit margins declined from 10% in Q1 to 8% in Q2. This\ndecline is attributed to an increase in the cost of ingredients. The company\nalso had lower sales available to cover the fixed cost components of the cost\nof goods sold.\n\n\nNet Loss\n\n\nThe net loss for Q2 in fiscal 2008 increased by $73,000 compared to\nfiscal 2007. The increase in losses can mainly be attributed to an increase in\nCost of Goods Sold and additional costs involved in research and development.\n\n\nCanyon Creek will continue to primarily focus on building its presence in\nthe retail sector. It is the company's belief that this sector will offer the\ngreatest return on capital invested. Canyon Creek's business strategy is to\nincrease sales by expanding distribution of both private label and branded\nproduct in new and existing markets with innovative food concepts, organic\ncapability and stronger brand positioning.\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 securities in any jurisdiction. The securities\noffered have not and will not be registered under the United States Securities\nAct of 1933, as amended, or any state securities laws and may not be offered\nor sold in the United States absent registration or an applicable exemption\nfrom the registration requirement.\n\n\nThe TSX Venture Exchange has neither approved nor disapproved of the\n\n\ncontents of the press release.\n\n\n%SEDAR: 00004242E\n\n\n","length":2...