Versacold Issues Year-End, Quarterly Figures

Aug. 1, 2001
For the 12 months ended Dec 31, 2000, Versacold Corp reported revenue of $128.4 million, up $8.2 million from 1999 revenue of $120.2 million. Direct profit

For the 12 months ended Dec 31, 2000, Versacold Corp reported revenue of $128.4 million, up $8.2 million from 1999 revenue of $120.2 million. Direct profit contribution increased by $1.5 million to $31.8 million from $30.3 million in 1999. EBITDA in 2000 was $22.6 million, compared with $21.5 million in 1999. Cash flow from operations was $6.6 million, below $9.1 million for 1999. Net income was $0.9 million, down from $1.4 million in 1999. Free cash flow fell to $11.1 million from $11.6 million.

For the three months ended March 31, 2001, revenue rose by 6% to $30.4 million from $28.8 million for first-quarter 2000. Direct profit contribution dropped by $0.6 million to $7.6 million from $8.2 million for the same period in 2000. EBITDA also dropped by $0.6 million, to $5.4 million from $6.0 million. Cash flow decreased $0.8 million from $2.4 million to $1.6 million. Net losses were $0.2 million, down from a profit of $0.3 million in the comparable period in 2000. At $2.0 million, free cash flow was down from $0.2 million in the corresponding period in 2000.

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