Artisanal Premium Cheese anuual net loss increases

Thu. September 17, 2009; Posted: 09:33 AM

Sep 17, 2009 (Datamonitor via COMTEX) -- AHFP | Quote | Chart | News | PowerRating -- American Home Food Products, currently doing business as Artisanal Premium Cheese, has reported a net loss of $1.62 million, or $0.30 per share, for the fiscal year ended May 31, 2009, compared to a net loss of $600,474, or $0.17 per share, for the fiscal year ended May 31, 2008.

Sales for the fiscal year ended May 31, 2009 were $5.7 million, a 14% increase, compared to $4.99 million for the same period of fiscal 2008.

Gross profit for the fiscal year ended May 31, 2009 was $1.53 million, compared to $1.36 million for fiscal 2008.

Daniel Dowe, president and CEO of Artisanal Premium Cheese, said: "In our fiscal year ending May 31, 2009, we experienced a revenue increase over the prior year in a very difficult economic environment that particularly suppressed our core business in servicing the most elite restaurants, hotels, casinos and caterers in the country. Corporate expense account limitations dramatically impacted our restaurant and hotel customers.

"However, our focus this past year was launching our brand into retail stores and we now have our product available in 44 specialty food stores. We are also in various stages of closing on major upscale retail supermarket chains in the tri-state New York territory with a goal to have our products available in 100 more upscale supermarket locations and up to 100 specialty stores by December 2009."

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