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Skor Food Group (SKF)



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By Yaser

Posted: Thursday Jan 26 7:24:30AM 2006

Skor Food Group Reports Record Quarterly Earnings The Skor Food Group Inc. (TSX.V: SKF)("Skor"), a rapidly growing, broad line food service distributor announced increased earnings for the three month period ended November 30, 2005. Earnings before relocation costs ($122,065) and income taxes increased by 42% to $853,252 while earnings after tax increased 25% to $473,939. << Three months ended Nov. 30 2005 2004 Revenue $ 20,514,885 $ 20,645,157 Earnings before tax and relocation costs $ 853,252 $ 599,278 Net earnings $ 473,939 $ 377,043 EPS (basic) $ 0.03 $ 0.03 Shares (basic) 17, 938,757 13,443,170 Skor enters the second quarter of fiscal 2006 in a strong financial position with working capital of $5.9 million, unused operating lines of credit of $3.5 million and a debt to equity ratio of 0.33:1. "We are pleased with the quarterly results as stronger margins and well managed expense control resulted in improved profitability," said Vince Capobianco, President and CEO. "In the short term, we will continue to focus our efforts on consolidating and streamlining the operations at our new facility while completing the acquisition of the $180 million wholesale food business announced earlier this week. We are well positioned to integrate new acquisitions with the warehouse infrastructure in place to support annual revenue of up to $500 million. Upon the successful completion of the proposed acquisition, annualized revenue will increase to approximately $260 million, providing a solid foundation to achieve our targeted revenue of $500 million by 2012. Furthermore, we continue to actively identify and target suitable acquisitions in distribution, manufacturing and retail as we pursue our objective of becoming a full service, vertically integrated food company."

By Pennypicker

Posted: Tuesday Jan 24 6:41:04AM 2006

Big jump this morning on aquisition of 180 million $ company any updates Doren?

By student013

Posted: Thursday Jan 12 1:26:00PM 2006

The price has gone up in recent days. Is it in anticipation of the first quarter results... or because there is an acquisition in the air? Are there people knowing things that other do not? I saw that Doren sold some more shares. I am curious to see if it would have been a better decision to wait for the first quarter results (in a week or two, if it is like last year) since the company seems to be doing so well?

By dquinton

Posted: Wednesday Dec 7 2:04:04PM 2005

The Skor numbers should be out any day. I am not anticipating negative results, in fact the company seems to be doing fairly well. I am just reducing my holdings as the stock has been quite illiquid while other situations seem to be moving.

By stargazer

Posted: Tuesday Dec 6 9:02:40PM 2005

Dear Doren, I noticed that you sold some more SKF today and I was wondering whether you can shed some light on the recent lack of interest in this stock. It seems they are also a bit slow with releasing their latest results. So far they have been growing nicely, but I could see high fuel prices affect the bottom line (unless they introduced fuel surcharges like so many others...)

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