UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) MAY 13, 2005
PROVENA FOODS INC.
(Exact name of registrant as specified in its charter)
| California | 1-10741 | 95-2782215 | ||
| (State or other jurisdiction of incorporation |
(Commission File Number) | (IRS employer Identification No.) |
| 5010 Eucalyptus Avenue, Chino, California | 91710 | |
| (Address of principal executive offices) | (Zip Code) |
(909) 627-1082
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
SECTION 2 - FINANCIAL INFORMATION
Item 2.02 Results of Operations and Financial Condition
The following is the text of a press release including registrant’s results for the 1st quarter of 2005 which registrant intends to have published on May 13, 2005.
FOR IMMEDIATE RELEASE -May 13, 2005 - CHINO, CA
PROVENA FOODS INC. REPORTS FIRST QUARTER RESULTS
CHINO, Calif., Provena Foods Inc. (AMEX: PZA) incurred a net loss of $162,676 for the 1st quarter of 2005 compared to a net loss of $360,697 a year ago. The Company’s sales were up 23% in the 1st quarter compared to the same period of 2004. Both the meat and pasta divisions contributed to the decrease in losses and increase in sales.
CONDENSED STATEMENT OF OPERATIONS
(Unaudited)
| Three Months Ended December 31, |
|||||||
| 2005 |
2004 |
||||||
| Net Sales |
$ | 15,144,637 | 12,318,552 | ||||
| Cost of Sales |
14,207,782 | 11,848,906 | |||||
| Gross profit |
936,855 | 469,646 | |||||
| Operating Expenses: |
|||||||
| Distribution |
438,822 | 504,581 | |||||
| General and administrative |
635,016 | 504,187 | |||||
| Operating loss |
(136,983 | ) | (539,122 | ) | |||
| Interest expense, net |
(193,147 | ) | (123,392 | ) | |||
| Other Income, net |
84,254 | 65,617 | |||||
| Loss before income taxes |
(245,876 | ) | (596,897 | ) | |||
| Income tax benefit |
83,200 | 236,200 | |||||
| Net loss |
$ | (162,676 | ) | (360,697 | ) | ||
| Loss per share: |
|||||||
| Basic and diluted |
$ | (0.05 | ) | (0.11 | ) | ||
| Shares used in computing loss per share: |
|||||||
| Basic and diluted |
3,345,664 | 3,219,047 | |||||
Contact: Thomas J. Mulroney, Chief Financial Officer
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: May 13, 2005 |
PROVENA FOODS INC. | |||
| By | /s/ Thomas J. Mulroney | |||
| Thomas J. Mulroney | ||||
| Vice President and | ||||
| Chief Financial Officer | ||||