Monterey Gourmet Foods Achieves New Distribution in SuperTarget Stores
September 03 2009 - 7:00AM
Marketwired
Monterey Gourmet Foods (NASDAQ: PSTA), a manufacturer and marketer
of fresh gourmet refrigerated food products, announced that its
Monterey Pasta Company Brand has achieved new distribution in
SuperTarget Stores. The company will deliver five pasta items for
distribution in 250 SuperTarget stores nationwide. The new
products, five varieties of Monterey Pasta Company's high-quality
filled pastas will begin appearing in stores in late September.
"This new distribution of our innovative and on-trend filled
pastas speaks directly to the SuperTarget guest's demand for fresh,
restaurant-quality ravioli and tortelloni for home preparation.
This new distribution demonstrates the effectiveness of our
investments in innovation and branding as well as our initiatives
to better communicate the restaurant-quality attributes of our
fresh pasta products," said Eric C. Eddings, president and CEO.
"With our commitment to innovation, we can deliver the exciting,
high-quality choices our retail customers and consumers want, while
solidifying our position as a leader in fresh at-home solution
categories."
About Monterey Gourmet Foods (NASDAQ: PSTA)
Monterey Gourmet Foods manufactures USDA inspected, fresh
gourmet refrigerated food products at its integrated manufacturing
facilities in Salinas (Monterey County), CA; and Kent, WA. Monterey
Gourmet Foods has national distribution of its products, which are
sold under the brands Monterey Pasta Company, CIBO Naturals,
Emerald Valley Kitchen and Sonoma Cheese in more than 11,000 retail
and club stores throughout the United States and selected regions
of Canada, the Caribbean, Latin America, and Asia Pacific. For more
information about Monterey Gourmet Foods, visit
www.MontereyGourmetFoods.com.
Safe Harbor Statement
This press release contains forward-looking statements
concerning unannounced results of operations and projections for
future periods including without limitation such phrases and terms
as would optimize overall asset utilization and provide more
innovation and flexible production runs. Such forward-looking
statements are based on currently available competitive, financial
and economic data and management's views and assumptions regarding
future events. Such forward-looking statements are inherently
uncertain, and investors must recognize that actual results may
differ from those expressed or implied in the forward-looking
statements. Consequently, the company wishes to caution readers not
to place undue reliance on any forward-looking statements. Among
the factors that could cause Monterey Gourmet Foods' actual results
to differ from such forward-looking statements are the following:
(i) the process associated with the integrations of all the
company's brands, plants and sales force, (ii) a significant
reduction of sales to two major customers currently comprising a
majority of total revenues, (iii) the retention of newly acquired
customers including achieving volume projections for these new
customers, (iv) the company's ability to achieve improved
production efficiencies, (v) the timely and cost-effective
introduction of new products in the coming months, (vi) the
utilization of the recently-completed plant expansion and the
increased fixed costs associated with increased plant capacity,
(vii) retention of key personnel and retention of key management,
(viii) the risks inherent in food production, (ix) intense
competition in the market in which the company competes and (x)
Monterey Gourmet Foods' ability to source competitively priced raw
materials to achieve historical operating margins. In addition, the
company's results may also be affected by general factors, such as
economic conditions, political developments, interest and inflation
rates, accounting standards, taxes, and laws and regulations in
markets where the company competes. The company has provided
additional information regarding risks associated with the business
in the company's Annual Report on Form 10-K for fiscal 2008 as well
as other filings with the SEC. These statements are based on
information as of August 4, 2009 and the company assumes no
obligation to update any forward-looking statements, whether as a
result of new information, future events, or otherwise.
Company Contact: Monterey Gourmet Foods Eric Eddings Chief
Executive Officer Email Contact Scott Wheeler Chief Financial
Officer Email Contact (206) 622-1016 Investor Relations Contact:
Lippert / Heilshorn & Associates Amy Gibbons/Jody Burfening
Email Contact (212) 838-3777
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