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Overhill Farms Reports Increases in Revenues to $194.4 Million, and Net Income to $3.1 Million, for Fiscal 2012

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                            OVERHILL FARMS, INC.                      CONDENSED SUMMARY OF OPERATIONS                                                 For the Fiscal Year Ended                                               ----------------------------                                               September 30,    October 2,                                                    2012           2011                                               -------------  -------------Net revenues                                     194,389,370  $ 169,218,474Cost of sales                                                 177,342,289    156,264,764                                               -------------  -------------Gross profit                                      17,047,081     12,953,710Selling, general and administrative expenses      11,894,203     10,352,586                                               -------------  -------------Operating income                                   5,152,878      2,601,124Total interest expense                                                    (312,176)      (334,570)                                               -------------  -------------Income before income taxes                         4,840,702      2,266,554Income tax provision                               1,725,737        825,046                                               -------------  -------------Net income                                     $   3,114,965  $   1,441,508                                               =============  =============Net income per share - basic                   $        0.20  $        0.09                                               =============  =============Net income per share - diluted                 $        0.19  $        0.09                                               =============  =============Shares used in computing net income per share:Weighted average shares outstanding - basic       15,831,596     15,823,271Weighted average shares outstanding - diluted     15,994,853     16,051,058                            OVERHILL FARMS, INC.                      CONDENSED SUMMARY OF OPERATIONS                                                For the Three Months Ended                                               ----------------------------                                               September 30,    October 2,                                                    2012           2011                                               -------------  -------------Net revenues                                   $  46,312,998  $  44,250,708Cost of sales                                     42,768,499     42,772,064                                               -------------  -------------Gross profit                                       3,544,499      1,478,644Selling, general and administrative expenses                                                   3,069,443      3,518,519                                               -------------  -------------Operating income (loss)                              475,056     (2,039,875)Total interest expense                               (56,617)       (83,694)                                               -------------  -------------Income (loss) before income taxes                    418,439     (2,123,569)Income tax provision (benefit)                        95,992       (766,117)                                               -------------  -------------Net income (loss)                              $     322,447  $  (1,357,452)                                               =============  =============Net income (loss) per share - basic            $        0.02  $       (0.09)                                               =============  =============Net income (loss) per share - diluted          $        0.02  $       (0.09)                                               =============  =============Shares used in computing net income (loss) per share:Weighted average shares outstanding - basic       15,841,493     15,823,271Weighted average shares outstanding - diluted     15,917,927     15,823,271




Contacts:

James Rudis
Chairman, President and CEO
Overhill Farms, Inc.
323-582-9977

Alexander Auerbach
Auerbach & Co. Public Relations
1-800-871-2583
Email Contact





Source: Marketwire


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