Paradise, Inc. Third Quarter Report

November 22, 2011

Paradise, Inc. (OTCQB: PARF.OB) reported net sales for its third quarter ended September 30, 2011 increased 12.6% to $9.5 million.  The increase in net sales was the result of earlier receipt of orders from long-term customers.  Net income for the period fell 10.7% to $726 thousand or $1.40 per share.  The lower net income was the result of higher raw fruit commodity cost and freight expenses.

For the first nine months of 2011, net sales increased 8.4% to $14.2 million resulting from the earlier receipt of orders noted above.  Net income for the period increased 47% to $593 thousand or $1.14 per share.

The balance sheet is stable with current assets of $16.9, total assets of $22.5 million and total liabilities of $3.4 million

The company noted that due to the timing of orders and shipments, that the third quarter report is not necessary a good forecast of fourth quarter performance.  Also, due to the seasonality of the company’s primary product, meaningful analysis requires results from a full year’s operations.

Source: Paradise, Inc.

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