Home / Industry / Agriculture / Pro-Fac posts first-quarter loss

Pro-Fac posts first-quarter loss

Pro-Fac Cooperative Inc. reported a first-quarter net loss Friday.

The Perinton-based agricultural cooperative posted a $378,000 loss compared with a loss of $189,000 a year ago.

Sales decreased to $132,000, from $331,000 in last year’s quarter, due to fewer sales transactions, a filing with the Securities and Exchange Commission shows. Selling, administrative and general expenses totaled $455,000.

The cooperative listed total assets at $40.6 million, up from $39.1 million a year ago. Investment income was $8,000, down from $200,000, due to lower invested balances and interest rates, management reported in the filings.

Pro-Fac is an agricultural cooperative that markets crops grown by its member-growers, including fruits, vegetables and popcorn. The coop also owns 40 percent of Birds Eye Foods Inc., which announced in October plans for an initial public offering.

Shares of Pro-Fac (Nasdaq: PFACP) were trading midday at $24.15, down 3 cents from Thursday’s close of $24.18.

(c) 2009 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail rbj@rbj.net.

x

Check Also

Mayor Lovely Warren speaking at 2019 State of the City Address on Tuesday, April 23.

Warren gives State of the City address, with emphasis on schools (access required)

Dozens gathered in the auditorium of Enrico Fermi School 17 for mayor Lovely Warren's 2019 State of the City address ...

Sen. Charles Schumer with former Friendly's employees on Monday, April 22.

Snap Poll: Majority back strengthening WARN Act (access required)

Senate Minority Leader Charles Schumer, D-NY, visited Rochester on Monday to call for changes in the Worker Adjustment and Retraining ...