YoCream International Inc., a manufacturer and wholesaler of frozen desserts and beverages, has reported its financial results for the third quarter ended July 31, 2010.
Sales for the three months ended July 31, 2010 increased 15.6% to $18,445,000. Sales for the nine months increased 12.1% to $41,721,000. Net income increased 25% to $2,141,000 for the quarter and increased 6% to $4,778,000 for the nine-month period.
Sales of the Company’s core frozen yogurt business grew 50.2% in the third quarter following 52.1% and 30.9% in the second and first quarters, respectively. Gross profit margins meanwhile have decreased due to higher ingredient costs.
“Our conviction remains that the notable growth of our core frozen yogurt products will continue as evidenced by performance,” stated Tyler Bargas, YoCream director of sales. “We ardently pursue business with independent shops, regional chains and other foodservice establishments through education and solution-based consulting.”
“Consumers are more interested than ever in the quality and health benefits of the foods they are consuming,” stated Suzanne Gardner, YoCream director of marketing. “They are making better-for-you choices like real nonfat frozen yogurt with high live and active probiotic yogurt cultures. This demand is the basis for the sustainable success of the frozen yogurt establishments that are opening around the country and the world.”