Vestro Foods Inc.: The Newport Beach specialty-food...
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Vestro Foods Inc.: The Newport Beach specialty-food company reported third-quarter earnings of $24,000, including a one-time charge of $116,000 from a change in estimated tax liability, contrasted with a loss of $7,000 in the year-earlier quarter. Sales rose to $8.8 million from $4.1 million. For the nine-month period, earnings increased to $182,000 from $168,000 in the prior year. Sales rose 83%, to $24.1 million from $13.2 million. Alfred Strogoff, president and chief executive, attributed the sales increase primarily to acquisitions.
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