Monterey Gourmet Foods today (8 May) posted a first-quarter loss of US$2.4m as commodity costs weighed on earnings.
Go deeper with GlobalData
The US-based firm saw its operating result swing from a $467,000 profit last year but insisted the business is “on track for a solid 2008”.
Sales rose 4% to $25.6m and president and CEO Eric Eddings said growing demand for local or regional foods would benefit the company.
Eddings added: “Our goal is to capture that demand by developing reasonably-priced quality, healthy food products. I am excited about our progress in 2008 and our plans for the future.”
Last month, Monterey secured full control of local cheese maker Sonoma Foods.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
