PORTLAND, Ore. — YoCream International, Inc. (Pink Sheets: YOCM), a
manufacturer and wholesaler of frozen desserts and beverages, today reported the
financial results for the first quarter ended January 31, 2010.
Sales for the three months ended January 31, 2010 increased 6.6% to $9,214,000
compared to $8,642,000, for the first quarter in fiscal 2009. Net income for the
quarter remains strong at $902,000 compared to $955,000 a year ago. Full
quarterly report with management’s discussion is posted at www.yocream.com and
on Pink Sheets at www.otcmarkets.com.
Frozen yogurt sales to the general foodservice market remain robust at a growth
rate of 30.9%. Sales of a specialty product to a major national chain were
impacted by the establishment of a secondary supplier; however, the Company
expects to remain as the major supplier for this account. The Company continues
to work with large national accounts, and four more are presently in test with
different products. The expansion of smaller regional chains and the increase in
independent shops throughout the country continues to increase consumer
awareness of frozen yogurt and the enjoyment of frequenting these fun
establishments. The Company recognized the needs of entrepreneurs for education
about frozen yogurt and sound foodservice operations and established YoCream
University (YO – U) in August 2009. This intensive two-day course on starting
and operating a frozen yogurt business is offered monthly for a modest fee. Some
YoCream University graduates have recently opened their businesses and more are
set to open before summer 2010.
Frozen beverage category sales for the first quarter of 2010 increased 5.1%. The
Company anticipates future growth in frozen beverages with customer commitments
to feature newer flavors like Ice Breakers Sugar Free Berry Splash and Peach
Dragonfruit. Sales of the core Jolly Rancher Watermelon and Green Apple flavors
will be complemented by new Jolly Rancher Tropical Tremor Pomegranate, Mango,
Sour Green Apple and Wild Berry flavors. These items are sold, especially in
convenience stores, both as frozen carbonated beverages and also as frozen
slushes.
YoCream International, Inc. is a world leader in the frozen yogurt industry.
Since 1977, YoCream has pioneered the innovation, production and marketing of
frozen yogurt and fruit-based frozen desserts and beverages. The Company
operates a state-of-the-art production facility in Portland, Oregon, to
manufacture its “true” frozen yogurt, which contains the real yogurt that is
fermented and cultured on site daily. The Company offers over 110 flavors of
frozen yogurt, ice cream, frozen custard, sorbet, smoothies, frozen carbonated
beverages, slushes and frozen drink mixes. In addition to the YoCream brand, the
Company also provides other branded flavors such as Hershey’s (e.g. Hershey’s
Kisses, Reese’s, York, Jolly Rancher, Twizzlers, Bubble Yum) and Rockstar
under exclusive licenses. YoCream’s end-user customers number in the thousands
and include marquee convenience stores, quality quick service restaurants,
warehouse stores, prestigious eating establishments, large grocery chains,
frozen yogurt shops, colleges, military and government foodservice locations,
international restaurants and neighborhood stores involving over 250 specialty
and full line distributors in the supply chain.
This release may contain certain forward-looking statements, which are based on
management’s current expectations. Factors that could cause future results to
vary materially from these expectations include, but are not limited to, change
in distribution abilities, level of customer acceptance of new products, change
in strategic alliances and other economic, competitive, governmental, and
regulatory factors affecting the Company’s operations, pricing, products and
service.
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