Overhill Farms weathers losses in fiscal 3Q

The company reported revenues of $34,072,000, a decrease of $395,000 (1.1%) from revenues of $34,467,000 for the same period the year before. Gross profit for the 2003 quarter fell $1,159,000 to $4,652,000 in the current year from $5,811,000 for the same period a year ago. The net result for the quarter ended June 29, 2003, was a loss of $1,751,000 versus net income of $285,000 for the same quarter in 2002.

For the nine months ended June 29, 2003, revenues rose $3,704,000 (3.6%) to $105,632,000 from $101,928,000 for the nine months ended June 30, 2002. Gross profit for the 2003 nine-month period dropped $2,521,000 (15.6%) to $13,661,000 from $16,182,000 for the comparable period in 2002. The net result for the nine months ended June 29, 2003, was a net loss of $4,204,000 compared with net income of $683,000 for the same period in 2002.