House & Home
House and Home
House and Home
Wed, February 9, 2011
Diamond Ranch Foods, Ltd. Announces Second Consecutive Profitable Quarter
NEW YORK--([ BUSINESS WIRE ])--Diamond Ranch Foods, Ltd. (OTCBB: DRFO), today announced the filing of its quarterly financial report in which it reported a net profit for the second straight quarter.
"For the second straight quarter Diamond Ranch has been able to obtain a profitable quarter from operations and an overall net profit. We have been successful in growing our margins to levels unique in our industry by streamlining our buying process and introducing our products internationally."
According to the Form 10-Q, filed February 7, 2011 with the Securities & Exchange Commission, Diamond Ranch reported its second consecutive profitable quarter which generated a net income of $20,506 on revenues of $1,756,015 for the three months ended December 31, 2010 compared to a loss of $181,333 for the same period of the prior year. The Company attributed the change to an increase in gross margins from 20% to 34% due to the growth of sales in international markets, better purchasing terms and improved inventory control, and continuing to introduce additional Diamond Ranch branded products to its product line.
Victor Petrone, Chief Financial Officer of Diamond Ranch, commented on the financial results, aFor the second straight quarter Diamond Ranch has been able to obtain a profitable quarter from operations and an overall net profit. We have been successful in growing our margins to levels unique in our industry by streamlining our buying process and introducing our products internationally.a
Discussing what shareholders can expect from Diamond Ranch in the coming months, Mr. Petrone added, aWe expect to continue to grow sales while maintaining our strong margins as we expand our business further into South America and Mexico. We are also actively pursuing several acquisition opportunities which will geometrically increase our sales and overall market share in the industry. Through economies of scale, reduction of duplicated costs, and by applying our improved margins to these new acquisitions, we will be able to significantly impact our bottom line. Diamond Ranch remains committed to increasing shareholder value by building itself into a dominant brand in the foodservice industry.a
About Diamond Ranch Foods, Ltd.
Begun as a regional meat processing and distribution company located in the Bronx, New York, Diamond Ranch Foods, Ltd. is a multifaceted purveyor of food products and services to the retail, wholesale, and food service sectors of the industry. The Companyas USDA-inspected facility is in the prestigious Hunts Point Cooperative Market, the largest food service-specific market in the world, and is minutes away from downtown Manhattan, yet readily accessible to the tri-state areaas large chain supermarkets, top restaurants, hotels, country clubs, schools, and hospitals. Over the past 40 years, Diamond Ranch has manufactured and distributed the aAll-American Hamburgera and ground beef using only the highest quality ingredients, giving their burgers their own flavor profile and bite. Shareholders and anyone interested in monitoring the progress of the company are encouraged to subscribe to the electronic mailing list by forwarding their email address to [ investors@diamondranchfoods.com ].
Safe Harbor Statement
Statements contained in this presentation that are not strictly historical are aforward-lookinga statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. The forward-looking statements are made based on information available as of the date hereof, and the Company assumes no obligation to update such forward-looking statements. Forward-looking statements are sometimes identified by words such as aintendsa, aanticipatesa, abelievesa, aexpectsa, and ahopesa and involve a number of risks and uncertainties that could cause the Companya™s actual results to differ materially from projected results. All parties are cautioned that such forward-looking statements involve risks and uncertainties that could cause the Companya™s actual results to differ materially from those in these forward-looking statements. Such risks and uncertainties include but are not limited to demand for the Companya™s products and services, the planned share exchange with Freedom2 Holdings, Inc., our ability to secure additional financing, and other factors that may be more fully described in reports to shareholders and periodic filings with the Securities and Exchange Commission.
