Artisanal Premium Cheese Q4 revenues marginally down

Mon. April 06, 2009; Posted: 09:32 AM

Apr 06, 2009 (Datamonitor via COMTEX) -- AHFP | Quote | Chart | News | PowerRating -- American Home Food Products, currently doing business as Artisanal Premium Cheese, has reported revenues of $2.2 million for the third quarter ended February 28, 2009, compared to $2.4 million in the quarter ended February 28, 2008.

The company has reported a net loss for the third quarter of 2009 applicable to common shares of $246,807, or $0.03 per share, which includes a preferred stock dividend of $174,639.

Gross margin increased slightly to 32.9% in the third quarter of fiscal 2009 as compared to 32.2% in the third quarter of fiscal 2008. Earnings before interest, taxes, depreciation and amortization (EBITDA), excluding equity-based compensation, for the third quarter of 2009 totaled $170,818.

For the nine months ended February 28, 2009, revenues increased 23% to $4.6 million from $3.8 million in the same period of 2008.

Daniel Dowe, president and CEO of Artisanal, said: "We are very pleased to report positive EBITDA for the quarter, providing a solid underpinning for our new retail growth strategy which we launched in February. Artisanal Premium Cheeses are affordable luxuries and we believe there is a tremendous opportunity to attract additional loyal customers by increasing their availability in the retail marketplace."

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