Dutton Associates Announces Investment Opinion: Vita Food Products Neutral Rating Maintained in Update Coverage by Dutton Associ
16 April 2007 - 6:30PM
Business Wire
Dutton Associates continues its coverage of Vita Food Products
(AMEX:VSF) maintaining a Neutral rating. The 7-page report by
Dutton senior analyst Gerald F LaKarnafeaux, CFA is available at
www.jmdutton.com as well as from First Call, Bloomberg, Zacks,
Reuters, Knobias, and other leading financial portals. Vita Food
Products has been providing full year 2006 earnings guidance during
the year of a range of $0.21 per share to $0.25 per share compared
to a loss of $0.23 per share in 2005. In order to achieve this
range the third quarter ending September 30, 2006 earnings had to
approximate $0.06 per share versus a loss of $0.07 per share in the
comparable 2005 period. The Company reported a disappointing and
unexpected loss of $0.15 per share in the September quarter. The
Company�s seafood products - smoked salmon and herring - have held
a leading position in national and regional markets for over seven
decades. Vita has a strong distribution structure with its network
of approximately 60 retail and institutional brokers and 17
distributor warehouses including three Company owned locations. The
poor operating performance from 2003 through 2005 resulted in
management changes and a management restructuring in late 2005 and
mid 2006. On a more positive note are the operating results,
particularly sales results, of the first six months of 2006 while
the third quarter was a reversal of the positive trend. About
Dutton Associates Dutton Associates is one of the largest
independent investment research firms in the U.S. Its 31 senior
analysts are primarily CFAs, and have expertise in many industries.
Dutton Associates provides continuing analyst coverage of over 140
enrolled companies, and its research, estimates, and ratings are
carried in all the major databases serving institutions and online
investors. The cost of enrollment in our one-year continuing
research program is US $35,000 prepaid for 4 Research Reports,
typically published quarterly, and requisite Research Notes. Dutton
Associates received $96,250 from the Company for 16 Research
Reports with coverage commencing on 5/07/2002. The Firm does not
accept any equity compensation. Our principals and analysts are
prohibited from owning or trading in securities of covered
companies. The views expressed in this research report accurately
reflect the analyst's personal views about the subject securities
or issuer. Neither the analyst's compensation nor the compensation
received by us is in any way related to the specific ratings or
views contained in this research report or note. Please read full
disclosures and analyst background at www.jmdutton.com before
investing.
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