CoolBrands tallies a robust fiscal quarter

CoolBrands International Inc's net earnings for the quarter ended May 31, 2003, were $8,957,000, compared with net earnings of $6,826,000 for the same quarter a year ago — an increase of $2,131,000, or 31.2%.

Revenues rose by $13,919,000, or 20.5%, to $81,908,000 versus $67,989,000 for the same quarter of fiscal 2002. The increase in revenues was primarily due to increased pre-packaged consumer products sales.

The company acquired the Dreamery ice cream and Whole Fruit sorbet brands July 7, 2003, from Dreyer's Grand Ice Cream. It also obtained from Nestlé the rights to the license for the Godiva ice cream brand and substantially the entire Häagen-Dazs ice cream distribution system in the United States.