Seeking Alpha

American Busine...'s  Instablog

American Business News
Send Message
ABN writes for Seeking Alpha and SurgingEarnings.Com. SurgingEarnings.Com focuses on the earnings results of fast growing companies and companies trading on lower PE or P/BV ratios. Everyday we filter earnings reports for important releases so that you don't have to. We realise there is a vast... More
My company:
SurgingEarnings.Com
My blog:
SurgingEarnings.com
  • Willi-Food International Q1 results impacted by late Passover 0 comments
    Jun 2, 2011 2:39 AM | about stocks: WILC

    G. Willi-Food International Ltd. , a global company specializing in the development, manufacturing, marketing and international distribution of kosher foods, on Tuesday announced its unaudited financial results for the first quarter ended March 31, 2011 with net income of US$ 1.8 million compared to US$ 2.1 million in the same period in 2011. 

    The company commented that the results were affected by the shift of Passover sales to the second quarter, causing sales to fall to US$ 25.4 million from US$ 27.3 million, and by hard sale activities (special discounts, samples and free tasting offered to customers to enhance the awareness to new products) which caused gross margin to fall to 26.0% from 29.7% for the same period in 2010

    Commenting on higher margin food products, including premium frozen kosher Neapolitan Pizza and a new series of premium impulse kosher Italian Gelato ice-cream, Mr. Zwi Williger (President and COO of Willi-Food) said: "We have taken the appropriate measures to position Willi-Food for a stronger fiscal 2011 by adding new premium higher margin food products to our product line and by highly focusing on reducing production costs and SG&A expenses. We remain focused on maximizing long-term profitability."

    The stock fell almost 4% on opening but largely recovered to close down just 1.03% at $7.40.

    Disclosure: The author has no long or short positions in G. Willi-Food International Ltd.

    Forward-Looking Statements: Statements in this release that are “forward-looking statements” are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially.

    Themes: Food Stocks: WILC
Back To American Business News' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

  • Three Stocks With Massive Insider Buying http://seekingalpha.com/a/1hmxr
    Sep 17, 2014
  • 3 Stocks For The Value Investor, Growth Enthusiast And Insider Followers http://seekingalpha.com/a/1azar
    May 5, 2014
  • Value Stock - Huntsman $HUN reports record Q3 with $116 million profit. Historic/5yearforecast growth 27.6%/15.1%, PE only 7.7
    Nov 4, 2012
More »
Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.