Toffuti Brands Inc. (TOF) Reports Increase in Profit for Fiscal 2009
Toffuti Brands Inc. reported net income of $506,000, or $0.10 per share, in fiscal 2009 (ended January 2, 2010). This was more than double the $217,000, or $0.04 per share, reported in fiscal 2008. Toffuti Brands Inc. reported revenue $18.6 million in fiscal 2009, a slight decrease from the $19.6 million reported in fiscal 2008. The company blamed the economy and the discontinuation of several lines of products that were not selling enough to be commercial. David Mintz, the CEO of Toffuti Brands Inc. said, “The last fiscal year was a difficult one for both our industry and our country.…