UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) MAY 10, 2006
PROVENA FOODS INC.
(Exact name of registrant as specified in its charter)
| California | 1-10741 | 95-2782215 | ||
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS employer ID. No.) |
| 5010 Eucalyptus Avenue, Chino California | 91710 | |
| (Address of principal executive offices) | (Zip code) |
(909) 627-1082
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
SECTION 2 - FINANCIAL INFORMATION
| Item 2.02 | Results of Operations and Financial Condition |
The following is the text of a press release including registrant’s results for the 1st quarter of 2006 which registrant intends to have published on May 10, 2006.
FOR IMMEDIATE RELEASE -May 10, 2006 - CHINO, CA
PROVENA FOODS INC. REPORTS FIRST QUARTER RESULTS
CHINO, Calif., Provena Foods Inc. (AMEX: PZA) had net earnings of $148,119 for the 1st quarter of 2006 compared to a net loss of $162,676 a year ago. The Company’s sales were up 2% in the 1st quarter compared to the same period of 2005. Both the meat and pasta divisions contributed to the increase in profits and increase in sales.
CONDENSED STATEMENT OF OPERATIONS
(Unaudited)
| Three Months Ended March 31, |
|||||||
| 2006 | 2005 | ||||||
| Net Sales |
$ | 15,449,707 | 15,144,637 | ||||
| Cost of Sales |
14,101,675 | 14,207,782 | |||||
| Gross profit |
1,348,032 | 936,855 | |||||
| Operating Expenses: |
|||||||
| Distribution |
458,439 | 438,822 | |||||
| General and administrative |
643,213 | 635,016 | |||||
| Operating profit (loss) |
246,380 | (136,983 | ) | ||||
| Interest expense, net |
(123,317 | ) | (193,147 | ) | |||
| Other Income, net |
157,134 | 84,254 | |||||
| Earnings (loss) before income taxes |
280,197 | (245,876 | ) | ||||
| Income tax benefit (expense) |
(132,078 | ) | 83,200 | ||||
| Net earnings (loss) |
$ | 148,119 | (162,676 | ) | |||
| Earnings (loss) per share: |
|||||||
| Basic and diluted |
$ | 0.04 | (0.05 | ) | |||
| Shares used in computing earnings (loss) per share: |
|||||||
| Basic and diluted |
3,468,205 | 3,345,664 | |||||
SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS
| Item 9.01 | Financial Statements and Exhibits |
No financial reports or exhibits are filed with this report.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: May 10, 2006 |
PROVENA FOODS INC. | |||||||
| By |
/s/ Thomas J. Mulroney | |||||||
| Thomas J. Mulroney | ||||||||
| Vice President and | ||||||||
| Chief Financial Officer | ||||||||