PORTLAND, Ore. — YoCream International, Inc. (Pink Sheets: YOCM), a
manufacturer and wholesaler of frozen desserts and beverages, today reported the
financial results for the fourth quarter and fiscal year ended October 31, 2009.
The Company has achieved outstanding growth in sales and earnings over the last
several years. Fiscal year 2009 sales increased 18.1% to $50,733,000, and fiscal
year 2008 sales increased 52.4%, which were preceded by two additional years of
double digit growth. Net income reached a record level of $5,639,000 in 2009
compared with $4,380,000 in 2008.
Frozen dessert sales for the fiscal year increased to $41,873,000 versus
$32,140,000 a year ago. The 30.3% increase primarily resulted from exceptional
growth in the Company’s core frozen yogurt products.
The Fiscal 2009 frozen dessert growth of 30.3% is significant, especially in a
recessed economy. Renewed demand for frozen yogurt has emerged from California
and is growing rapidly in the Northeast, Southeast, Southwest, and Midwest as
well as in international markets. Many of the smaller regional chains have and
are expanding to other areas of the country. Frozen yogurt shops, especially
self serve, are becoming destination points for consumers of all demographics.
Most shops offer 10 to 20 soft serve flavors. YoCream was prepared to meet this
demand with a high quality, diverse product line: Sweet profile frozen yogurts,
including the Hershey’s branded flavors; tart profile frozen yogurts;
no-sugar-added frozen yogurts; sorbet, ice cream and frozen custard. More than
70 YoCream soft serve products allow operators to present an array of flavors
that appeal to consumers of all ages and genders in every region of the country.
And the Company’s innovative activities continue — YoCream is in development on
creative new products with potential customers in different market segments,
like quick service restaurants and healthcare.
Sales in the fourth quarter increased 1.3% to $13,509,000. Sales of the
Company’s core frozen yogurt products were up over 59% in the fourth quarter,
while sales to a major national account that began in the second quarter of
fiscal 2008 caught up with the prior year’s roll out and were lower in the last
half of the year than the prior year. Income from Operations held at 18.9% in
the fourth quarter and net income was affected by the recognition of the balance
of the restricted stock compensation expense.
YoCream’s complete annual report and management’s discussion and analysis is
posted at www.yocream.com and
www.pinksheets.com.
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.
Source:
YoCream International, Inc.
