Tofutti Brands Inc. (AMEX: TOF) $12M (MarketCap)

Tofutti Brands Inc. (TOF) is currently trading at 2.27, up .3 or 15.23%. This company is principally involved in the development, production, and marketing of Tofutti brand soy-based, dairy-free frozen desserts and cheese products, among others. Its products are sold in grocery stores, supermarkets, health and convenience stores throughout the United States and in approximately 25 other countries.

On May 18th, it released its First Quarter financial results for the 13 week period ended April 3, 2010.

Financial Highlights include:

• Revenues for the first quarter were approximately $4.6 million compared to $4.2 million in the first quarter of 2009.
• Operating income in the first quarter was $475,000 compared to $253,000 in the first quarter of 2009.
• Net income for the first quarter was $275,000 compared to $152,000 in the first quarter of 2009.

The increase in net sales can be attributed to the improving economic climate. Sales of the company’s soy-cheese products improved while sales of its frozen dessert products maintained their 2009 levels. Gross profit percentage increased to 35% from 33% for the period ending March 28, 2009. This was due primarily due to the discontinuance of slower selling, lower margin products in 2009.

Mr. David Mintz, Chairman and Chief Executive Officer of the Company commented, "Our improved results in the first quarter of 2010 reflect the general improvement in the economic climate and our decision to drop certain low profit margin products that we sold in the 2009 period. We continue to concentrate on our core business of non-dairy frozen desserts and soy-cheese products and believe this strategy will continue to provide positive results. We look forward to improvements in our sales and operating income during the upcoming summer months."