Synergy Brands Reports Third Quarter Financial Results
Monday November 15, 8:00 am ET
Revenue Increases 34% for the Three Months
MELVILLE, NY--(MARKET WIRE)--Nov 15, 2004 -- Synergy Brands, Inc. (NasdaqSC:SYBR - News) today reported a 34% increase in revenues for the third quarter ending September 30, 2004. For the quarter, Synergy reported revenues of $13,759,995 compared to third quarter revenue in 2003 of $10,278,027. The Company's operating profit increased 163% from the 3rd quarter of last year to $264,256 or $.12 per share as compared to an operating loss of ($419,227) or ($.22) per share in the 3rd quarter of the prior year. The Company's net loss for the third quarter of 2004 was ($170,230) or ($.08) per share, a substantial improvement from last year's quarterly loss of ($627,923) or ($.34) per share. Most of the net loss resulted from higher financing costs resulting from increased sales (see table below).
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