US: Leading Brands plays revenue catch-up

By just-drinks.com editorial team | 6 July 2007

Leading Brands Inc. has posted reduced gross revenue in its first quarter results due to the closure of three of its "non-core businesses".

In the company's results for the first quarter of its 2007 fiscal year, which ended 31 May, it reported gross revenue of US$10,558,000, compared to $13,234,000 in Q1 last year.

Leading Brands said that the decrease was due to the "discontinuance of three now non-core businesses during this and the immediately preceding fiscal quarters."

Leading Brands chairman and CEO Ralph McRae said: ``It will take us several months to fully replace the revenue from these discontinued businesses with those of our proprietary brands.''

Net loss for the quarter was US$185,000 or $0.01 per share, compared to net income of $265,000 or $0.02 per share at the same time last year.

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