Edgewater Foods International, Inc. (EDWT.OB) Reports 100% Increase in Q2 Revenues
Sales at the shellfish producer jumped 160% for the first half of fiscal 2008, rising from $305,000 last year to $795,000. Revenues in the second quarter were $366,000 versus $182,000 for the same period in 2007. The company reported a gross loss for the quarter of $128,000, an increase of $36,000 year over year. For the first six months of 2008, the gross loss totaled $233,000. Last year’s first-half gross loss was $160,000. Robert Saunders, Chairman, CEO and President of Edgewater, expressed satisfaction with the results. “The increase in our overall sales was a direct result of our new sales…