Source: LOHAS Weekly Newsletter
Published: Monday, December 01, 1997

MORGAN HILL, CA—Organic Food Products Inc. (OFPI) said net revenues for 1Q98 were $2.88 million and earnings were $48,733 or $.01/share. This compares with 1Q97 earnings of $102,879 or $.02/share on revenues of $3.6 million. The sales decrease was due to the phase-out of organic raw fruit sales and the elimination of duplicated or nonprofitable products. CEO Floyd Hill says the company’s revenues in the organic business grew 6.7% over the comparable period in the previous year and that 1Q results reinforces the company’s plans to expand beyond the pasta sauce category.

The company also announced an agreement with the 84-store BJ’s Markets to test-market three categories of products in an unspecified number of BJ’s Northeast region stores. Successful results could lead it to design more products targeted at the club-store format, the company says.