Food Technology Service, Inc. Reports Earnings

Business Wirevia The Motley Fool
Updated

Food Technology Service, Inc. Reports Earnings

MULBERRY, Fla.--(BUSINESS WIRE)-- Food Technology Service, Inc., Mulberry FL (Nasdaq VIFL) had record revenues of $1,136,748 during the second quarter of 2013 compared to revenues of $1,019,823 for the same period in 2012. This is an increase of approximately 11.4 percent. The Company had net income during the second quarter of 2013 of $281,349 compared to net income of $259,330 during the second quarter of 2012. This is an increase of approximately 8.5 percent. For the first half of 2013, the Company had record revenues of $2,209,903 and net income of $545,123. Revenues during the first half of 2012 were $2,070,439 and the Company had net income of $533,184. Revenues increased by about 6.7 percent and net income increased by approximately 2.2 percent in the first half of 2013 compared to the same period in 2012.

Food Technology Service, Inc. CEO Dr. Richard Hunter said: "The Company continues to show good revenue growth with record revenues in each of the last two quarters. I am especially pleased by strong demand from existing customers as well as increases in new customers."


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.

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Food Technology Service, Inc.
Richard G. Hunter Ph.D., 863-425-0039
President/CEO
www.ftsi.us

KEYWORDS: United States North America Florida

INDUSTRY KEYWORDS:

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