Spectrum Organics Trims Lossin 1Q Despite Lower SalesSpectrum Organics Trims Lossin 1Q Despite Lower Sales

Spectrum Organics Trims Lossin 1Q Despite Lower Sales

PETALUMA, Calif.--Spectrum Organic Products (NASDAQ:SPOP) posted decreasednet sales but trimmed net loss for its first quarter ended March 31. Revenuesslipped almost 4 percent to $11.0 million from $11.4 million sold in the samequarter last year, while gross margin fell slightly. However, decreasedmarketing expenses helped trim net loss to $.17 million from $.37 million lostin the same quarter a year ago.The decrease in sales was attributed to fewer organic ingredients sales dueto non-recurring citrus sales the year prior, as well as closeout sales of thediscontinued Sunny Farms juice products the year prior. But, culinary productsand nutritional supplements each posted significant sales growth. Managementstressed that its earnings before income taxes depreciation and amortization (EBITDA),which increased 33.5 percent during the quarter to $.42 million, is the mostaccurate indicator of the company's performance.