Paradise, Inc. Annual Report: Year Ended December 31, 2011

March 28, 2012

Paradise, Inc. (OTCQB: PARF.OB) reported net sales for its year ended December 31, 2011 increased 3.8% to $24.86 million compared to net sales of $23.97 million for the prior year.  Net sales benefited from a 4.8% increase from the company’s fruit segment and a 1.4% increase from the company’s plastic segment.

Net income for 2011 increased 76.7% to $1.23 million or $2.37 per diluted share versus $698 thousand or $1.34 per diluted share for 2010.  Net income in 2011 benefited from higher gross profit margins due to containment of production labor costs.

As of December 31, 2011, the balance sheet reflected current assets of $16.78 million (including cash and cash equivalents of $7.47 million), total assets of $22.16 million, current liabilities of $2.26 million and total liabilities of $2.43 million.  During 2011, stockholders’ equity increased 6.4% to $19.73 million.

Paradise, Inc. is engaged in the production and selling of glace’ candied fruit as well as the design and molding of plastic containers for both its product line and for non-affiliated customers.

Source: Paradise, Inc.

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