Food Technology Service, Inc. Reports Earnings
MULBERRY, Fla.--(BUSINESS WIRE)-- Food Technology Service, Inc., (NAS: VIFL) had record revenues of $1,073,177 during the first quarter of 2013 compared to revenues of $1,050,616 for the same period in 2012. This is an increase of approximately 2.2 percent. The Company had net income during the first quarter of 2013 of $263,773 versus net income of $273,855 during the same period in 2012, a decrease of approximately 3.7 percent. The decrease in net income resulted from approximately $43,000 in increased depreciation from Cobalt and a new programmable logic control system purchased during the last half of 2012.
Food Technology Service, Inc. CEO Dr. Richard Hunter said: "I am pleased with our results for the first quarter of 2013. Although the increase in revenue was modest, the comparison is to our previous record quarterly revenues in the first quarter of 2012. In addition, we had good growth in several of our medium-sized medical sterilization customers in the first quarter of 2013."
Food Technology Service, Inc. provides irradiation services for medical products, food items and consumer goods to enhance the safety of those products. The Company is certified to ISO 13485:2003 standards for the provision of radiation sterilization services for medical devices.
Except for historical matters contained herein, the matters discussed in this press release are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and involve risk and uncertainties that may affect business and prospects and cause actual results to differ materially from these forward-looking statements.
Food Technology Service, Inc.
Richard G. Hunter Ph.D., 863-425-0039
KEYWORDS: United States North America Florida
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