Overhill Farms weathers losses in fiscal third quarter

Overhill Farms Inc, which has nationwide operations in the frozen food industry, announced operating results for its fiscal third quarter ended June 29, 2003.

The company reported revenues of $34,072,000, a decrease of $395,000 (1.1%) from revenues of $34,467,000 for the same period the year before. Gross profit for the 2003 quarter fell $1,159,000 to $4,652,000 in the current year from $5,811,000 for the same period a year ago. The net result for the quarter ended June 29, 2003, was a loss of $1,751,000 versus net income of $285,000 for the same quarter in 2002.

For the nine months ended June 29, 2003, revenues rose $3,704,000 (3.6%) to $105,632,000 from $101,928,000 for the nine months ended June 30, 2002. Gross profit for the 2003 nine-month period dropped $2,521,000 (15.6%) to $13,661,000 from $16,182,000 for the comparable period in 2002. The net result for the nine months ended June 29, 2003, was a net loss of $4,204,000 compared with net income of $683,000 for the same period in 2002.

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