Vita FD Products (AMEX:VSF)
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Dutton Associates continues its coverage of Vita Food Products
(AMEX:VSF) maintaining a Neutral rating. The 7-page report by Dutton
senior analyst Gerald F LaKarnafeaux, CFA is available at www.jmdutton.com
as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, and
other leading financial portals.
Vita Food Products has been providing full year 2006 earnings guidance
during the year of a range of $0.21 per share to $0.25 per share
compared to a loss of $0.23 per share in 2005. In order to achieve this
range the third quarter ending September 30, 2006 earnings had to
approximate $0.06 per share versus a loss of $0.07 per share in the
comparable 2005 period. The Company reported a disappointing and
unexpected loss of $0.15 per share in the September quarter. The Company’s
seafood products - smoked salmon and herring - have held a leading
position in national and regional markets for over seven decades. Vita
has a strong distribution structure with its network of approximately 60
retail and institutional brokers and 17 distributor warehouses including
three Company owned locations. The poor operating performance from 2003
through 2005 resulted in management changes and a management
restructuring in late 2005 and mid 2006. On a more positive note are the
operating results, particularly sales results, of the first six months
of 2006 while the third quarter was a reversal of the positive trend.
About Dutton Associates
Dutton Associates is one of the largest independent investment research
firms in the U.S. Its 31 senior analysts are primarily CFAs, and have
expertise in many industries. Dutton Associates provides continuing
analyst coverage of over 140 enrolled companies, and its research,
estimates, and ratings are carried in all the major databases serving
institutions and online investors.
The cost of enrollment in our one-year continuing research program is US
$35,000 prepaid for 4 Research Reports, typically published quarterly,
and requisite Research Notes. Dutton Associates received $96,250 from
the Company for 16 Research Reports with coverage commencing on
5/07/2002. The Firm does not accept any equity compensation. Our
principals and analysts are prohibited from owning or trading in
securities of covered companies. The views expressed in this research
report accurately reflect the analyst's personal views about the subject
securities or issuer. Neither the analyst's compensation nor the
compensation received by us is in any way related to the specific
ratings or views contained in this research report or note. Please read
full disclosures and analyst background at www.jmdutton.com
before investing.