-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PtB9LJIjeUWEoO5IOs4nk4yl+Gm9XaUh91XNQmNB32kFIB2OisYE8G9LOsMPu8ia JRNFo7oanNEb1eAT/4DvCQ== 0000897069-98-000228.txt : 19980415 0000897069-98-000228.hdr.sgml : 19980415 ACCESSION NUMBER: 0000897069-98-000228 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 9 CONFORMED PERIOD OF REPORT: 19980228 FILED AS OF DATE: 19980414 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: NORTHLAND CRANBERRIES INC /WI/ CENTRAL INDEX KEY: 0000818010 STANDARD INDUSTRIAL CLASSIFICATION: AGRICULTURE PRODUCTION - CROPS [0100] IRS NUMBER: 391583759 STATE OF INCORPORATION: WI FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 000-16130 FILM NUMBER: 98593653 BUSINESS ADDRESS: STREET 1: 800 FIRST AVE SO STREET 2: P O BOX 8020 CITY: WISCONSIN RAPIDS STATE: WI ZIP: 54494 BUSINESS PHONE: 7154244444 10-Q 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended February 28, 1998 OR [_] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission file number 0-16130 NORTHLAND CRANBERRIES, INC. (Exact name of registrant as specified in its charter) Wisconsin 39-11583759 (State or other jurisdiction of (I.R.S. Employer Incorporation or organization) Identification No.) 800 First Avenue South P.O. Box 8020 Wisconsin Rapids, Wisconsin 54495-8020 (Address of principal executive offices) Registrant's telephone number, including area code (715) 424-4444 Former name, former address and former fiscal year, if changed since last report. Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS: Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes No APPLICABLE ONLY TO CORPORATE ISSUERS: Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date: Class A Common Stock March 31, 1998 13,227,498 Class B Common Stock March 31, 1998 636,202 NORTHLAND CRANBERRIES, INC. FORM 10-Q INDEX PART I. FINANCIAL INFORMATION PAGE Item 1. Financial Statements Condensed Consolidated Balance Sheets . . . . . . . 3 Condensed Consolidated Statements of Operations . . 4-5 Condensed Consolidated Statements of Cash Flow . . 6 Notes to Condensed Consolidated Financial Statements . . . . . . . . . . . . . . . . . . . . 7 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations . . 8-10 PART II. OTHER INFORMATION Item 4. Submission of Matters to a Vote of Security Holders . . . . . . . . . . . . . . . . . . . . . 11 Item 6. Exhibits and Reports on Form 8-K . . . . . . . . . 11 SIGNATURE . . . . . . . . . . . . . . . . . . . . . 12 PART I - FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS NORTHLAND CRANBERRIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (DOLLARS IN THOUSANDS) ASSETS (Unaudited) February 28, August 31, 1998 1997 Current assets: Cash and cash equivalents $ 207 $ 231 Accounts and note receivable 16,491 6,996 Investments 0 1,260 Inventories 37,414 26,454 Prepaid Expenses 2,761 1,715 Deferred income taxes 3,035 3,035 ------- ------- Total current assets 59,908 39,691 ------- ------- Property and equipment-at cost 166,124 161,865 Less accumulated depreciation 26,540 23,592 ------- ------- Net property and equipment 139,584 138,273 Leasehold interest, net 960 1,039 Other 2,097 1,929 ------- ------- Total assets $202,549 $180,932 ======= ======= LIABILITIES AND SHAREHOLDERS' EQUITY, Current liabilities: Accounts payable $ 5,013 $ 3,806 Accrued liabilities 7,353 4,092 Current portion of long-term obligations 3,844 3,647 ------- ------- Total current liabilities 16,210 11,545 Long-term obligations 100,784 83,130 Deferred income taxes 9,574 9,446 ------- ------- Total liabilities 126,568 104,121 ------- ------- Shareholders' equity: Common stock-Class A 132 132 Common stock-Class B 6 6 Additional paid-in capital 67,946 67,889 Retained earnings 7,897 8,784 ------- ------- Total shareholders' equity 75,981 76,811 ------- ------- Total liabilities and shareholders' equity $202,549 $180,932 ======= ======= See accompanying notes to condensed consolidated financial statements. NORTHLAND CRANBERRIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (DOLLARS IN THOUSANDS EXCEPT PER SHARE AMOUNTS) (Unaudited) For the 3 months ended February 28, 1998 1997 Revenues $ 30,296 $ 13,513 Cost of sales 17,203 6,498 ------- ------- Gross profit 13,093 7,015 Cost and expenses: Selling, general and 10,971 3,369 administrative Interest 1,910 1,115 ------ ------ Total costs and expenses 12,881 4,484 ------ ------ Income before income taxes 212 2,531 Income taxes 97 1,005 ------ ------ Net income $ 115 $ 1,526 ====== ====== Basic income per share $0.01 $0.11 ====== ====== Diluted income per share $0.01 $0.11 ====== ====== See accompanying notes to condensed consolidated financial statements. NORTHLAND CRANBERRIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (DOLLARS IN THOUSANDS EXCEPT PER SHARE AMOUNTS) (Unaudited) For the 6 months ended February 28, 1998 1997 Revenues $ 48,727 $ 24,433 Cost of sales 26,017 11,173 ------- ------- Gross profit 22,710 13,260 Cost and expenses: Selling, general and administrative 18,975 6,334 Interest 3,342 1,910 ------- ------- Total costs and expenses 22,317 8,244 ------- ------- Income before income taxes 393 5,016 Income taxes 176 1,988 ------- ------- Net income $ 217 $ 3,028 ====== ======= Basic income per share $0.02 $0.22 ====== ======= Diluted income per share $0.02 $0.21 ====== ====== See accompanying notes to condensed consolidated financial statements. NORTHLAND CRANBERRIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (DOLLARS IN THOUSANDS) (Unaudited) For the 6 months ended February 28, 1998 1997 Cash flows from operating activities: Net income $ 217 $ 3,028 Adjustments to reconcile net income to net cash provided by (used for) operating activities: Depreciation and amortization 3,158 2,445 Changes in assets and liabilities: Receivables and other current assets (9,281) (6,159) Inventories (10,960) (7,133) Accounts payable and accrued liabilities 4,468 1,227 Deferred income taxes 128 1,601 ------- ------- Net cash used for operating activities (12,270) (4,991) ------- ------- Investment activities: Acquisitions of cranberry operations 0 (7,025) Property and equipment additions, net (4,265) (5,012) Investments 0 1,202 Other (120) (762) -------- ------- Net cash used for investing activities (4,385) (11,597) -------- ------- Financing activities: Increase in debt 17,851 18,330 Dividends paid (1,104) (1,089) Exercise of stock options 57 732 Other (173) (170) ------- ------- Net cash provided by financing activities 16,631 17,803 ------- ------- Net decrease in cash and cash equivalents (24) 1,215 Cash and cash equivalents: Beginning of period 231 266 ------- ------- End of period $ 207 $ 1,481 ======= ======= Supplements disclosures of cash flow information: Cash paid for: Interest (net of amount capitalized) $ 3,385 $ 1,919 ======= ====== See accompanying notes to condensed consolidated financial statements. NORTHLAND CRANBERRIES, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 1 BASIS OF PRESENTATION The condensed consolidated financial statements included herein have been prepared by the Company without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. In the opinion of the Company, the foregoing statements contain all adjustments necessary to present fairly the financial position of the Company as of February 28, 1998, and its results of operations and cash flows for the three- and six- month periods ended February 28, 1998 and 1997, respectively. The Company's consolidated balance sheet as of August 31, 1997 included herein has been taken from the Company's audited financial statements of that date included in the Company's latest annual report. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. It is suggested that these condensed financial statements can be read in conjunction with the financial statements and the notes thereto included in the Company's latest annual report. The Company periodically reviews long-lived assets to assess recoverability and impairments will be recognized in operating results if a permanent diminution in value were to occur. ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS RESULTS OF OPERATIONS Total revenues for the three months ended February 28, 1998 were $30.3 million, a 124% increase over revenues of $13.5 million in the prior year's second quarter. Revenues for the six-month period ended February 28, 1998 increased 99% to $48.7 million from $24.4 million during the same period in fiscal 1997. The increased fiscal 1998 revenues for both periods were due to increased sales of Northland brand 100% juice products. Trade industry data for the 12-week period ended March 1, 1998 indicated Northland juice products achieved distribution penetration into approximately 74% of the nation's 30,000 supermarkets and a 12.7% market share of supermarket bottled shelf-stable cranberry beverage dollar sales on a national basis, up from a 10.6% market share for the previous 12-week period. The Company believes its increased branded juice sales and resulting increased market share were primarily due to its aggressive branded product marketing campaign, which included over $13 million in media and trade spending during the first six months of fiscal 1998. The Company plans to continue to aggressively market its branded juice products throughout the remainder of the fiscal year. The Company continues to experience intense competition in its efforts to expand its current limited presence in the private label juice market and in its efforts to sell concentrate and bulk frozen fruit. Sales of these products in the first half of 1998 were substantially below initially budgeted expectations principally as a result of intense price competition. Cost of sales for the second quarter of fiscal 1998 was $17.2 million compared to $6.5 million for the second quarter of fiscal 1997, resulting in gross margins of 43.2% and 51.9% in each respective period. Cost of sales for the six-month period ended February 28, 1998 was $26.0 million compared to $11.2 million in the fiscal 1997 period, with gross margins of 46.6% and 54.3%, respectively. The decrease in gross margin for both fiscal 1998 periods was primarily due to the Company's changing product mix and reduced pricing for cranberry concentrate. A majority of fiscal 1998 period revenues was generated by the Company's branded juice sales compared to fiscal 1997 revenues which were more heavily weighted toward higher margin fresh fruit and concentrate sales at substantially higher pricing levels. The Company's gross margins during the remainder of fiscal 1998 will be dependent upon its product mix and then existing market conditions. Selling, general and administrative expenses were $11.0 million, or 36.2% of total revenues, for the three-month period ended February 28, 1998 compared to $3.4 million, or 24.9% of total revenues, in the prior year's second fiscal quarter. Selling, general and administrative expenses were $19.0 million, or 38.9% of total revenues, for the six-month period ended February 28, 1998, compared to $6.3 million, or 25.9% of total revenues, during the same period in the prior fiscal year. This planned increase in selling, general and administrative expenses was primarily attributable to the Company's ongoing aggressive marketing campaign to support the development and growth of its Northland brand 100% juice products. Interest expense was $1.9 million and $3.3 million for the three- and six-month periods ended February 28, 1998, respectively, compared to $1.1 million and $1.9 million, respectively, during the same periods in fiscal 1997. The increase in interest expense was due to increased debt levels, which resulted from funding increasing levels of inventory and accounts receivable to support the Company's growing consumer cranberry product business, as well as funding marsh acquisitions and seasonal operating activities. Consistent with the Company's expectation given its aggressive promotional activity in support of the growth of its branded juice products, net income and per share earnings for the three- and six-month periods ended February 28, 1998 decreased to $115,000, or $0.01 per share, and $217,000, or $0.02 per share, respectively, from fiscal 1997 second quarter and first half net income and per share earnings of $1.5 million, or $0.11 per share and $3.0 million, or $0.22 per share, respectively. FINANCIAL CONDITION Net cash used for operating activities in the first six months of fiscal 1998 was $12.3 million compared to $5.0 million used for operating activities in the same period in fiscal 1997. The increased net cash used for operating activities during the first half of fiscal 1998 was the result of working capital increases to support the Company's growing juice business and the continuing evolving nature of the Company's business into a consumer products company. Accounts receivable increased $9.3 million primarily due to increased branded juice sales. Inventory increased $11.0 million due to the purchase of 104,000 barrels of fruit from other independent cranberry growers and increased raw materials and finished goods inventories necessary to support the Company's increasing branded juice sales. Accounts payable increased $4.5 million in the first half of fiscal 1998 primarily due to contract installment payments due independent cranberry growers for the purchase of their fruit, as well as purchases of other raw materials inventory to support the Company's growing branded product sales. Net cash used for investing activities decreased during the six- month period ended February 28, 1998 to $4.4 million from $11.6 million during the same period in the prior fiscal year. The decrease was principally the result of reduced property and equipment additions. Fiscal 1998 property and equipment additions were $4.3 million compared to total property and equipment additions of $12.0 million in the first half of the prior year. Fiscal 1997 property and equipment additions included $7.1 million for the acquisition of two cranberry properties. Net cash provided by financing activities in the six-month period ended February 28, 1998 was $16.6 million, compared to $17.8 million during the same period in the prior fiscal year. The Company's debt increased $17.9 million during the first half of fiscal 1998 primarily due to the $15.6 million increase in seasonal and growth working capital and $4.3 million for property and equipment additions. Working capital was $43.7 million at February 28, 1998 compared to working capital of $28.1 million at August 31, 1997. The Company's total debt (including current portion) was $104.6 million at February 28, 1998 for a total debt- to-equity ratio of 1.38 to 1 compared to total debt of $86.8 million and a total debt-to-equity ratio of 1.13 to 1 at August 31, 1997. Depending upon the future sales levels and relative sales mix of the Company's products over the remainder of the fiscal year, the Company does not believe that its working capital requirements will materially increase during the last half of fiscal 1998. However, the Company believes that its $75 million revolving credit facility, together with cash generated from operations, would be sufficient to fund any such materially increased working capital requirements, as well as the Company's ongoing operational needs, over the remainder of fiscal 1998. As of February 28, 1998, the principal amount outstanding under the Company's revolving credit facility was $67.7 million, with an additional $7.3 million available under its credit facility with a syndicate of regional banks until December 2000. __________________________________________________________________________ SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain matters discussed in this Management's Discussion and Analysis of Financial Condition and Results of Operations are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such because the context of the statement will include such words as the Company "believes," "anticipates," "expects," or words of similar import. Similarly, statements that describe the Company's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties which are described in close proximity to such statements and which could cause actual results to differ materially from those currently anticipated. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undo reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this Form 10-Q and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. __________________________________________________________________________ PART II - OTHER INFORMATION ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS At the Company's annual meeting of shareholders held on January 7, 1998, Jerold D. Kaminski, John C. Seramur, Jeffrey J. Jones, John Swendrowski, Patrick F. Brennan, Robert E. Hawk, LeRoy J. Miles and Pat Richter were elected as directors of the Company for terms expiring at the 1999 annual meeting of shareholders and until their successors are duly qualified and elected. As of the November 20, 1997 record date for the annual meeting, 13,220,370 shares of Class A Common Stock and 636,202 shares of Class B Common Stock were outstanding and eligible to vote. Of these, 11,814,742 shares of Class A Common Stock and all shares of Class B Common Stock voted at the meeting in person or by proxy. Class A shares are entitled to one vote each, while Class B shares are entitled to three votes each. The following table sets forth certain information with respect to the election of directors at the annual meeting: Shares Name of Nominee Shares Voted For Withholding Authority Jerold D. Kaminski 13,672,240 51,108 John C. Seramur 13,672,240 51,108 Jeffrey J. Jones 13,672,240 51,108 John Swendrowski 13,671,490 51,858 Patrick F. Brennan 13,672,085 51,263 Robert E. Hawk 13,672,320 51,028 LeRoy J. Miles 13,671,940 51,408 Pat Richter 13,666,705 56,643 The tabulation votes for the election of directors resulted in no broker non-votes or abstentions. ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K a. Exhibits Exhibits filed with this Form 10-Q report are incorporated herein by reference to the Exhibit Index accompanying this report. b. Form 8-K No reports on Form 8-K were filed by the Company during the quarterly period to which this Form 10-Q relates. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned Chief Financial Officer thereunto duly authorized. NORTHLAND CRANBERRIES, INC. DATE: April 13, 1998 By: /s/ John Pazurek John Pazurek Chief Financial Officer EXHIBIT INDEX Exhibit No. Description (27.1) Financial Data Schedule (27.2) Restated Financial Data Schedule for the third quarter of fiscal 1997 (27.3) Restated Financial Data Schedule for the second quarter of fiscal 1997 (27.4) Restated 1996 Financial Data Schedule (27.5) Restated Financial Data Schedule for the third quarter of fiscal 1996 (27.6) Restated Financial Data Schedule for the second quarter of fiscal 1996 (27.7) Restated Financial Data Schedule for the first quarter of fiscal 1996 (27.8) Restated Financial Data Schedule for the five months ended August 31, 1995 *(27.9) Restated Financial Data Schedules for the first quarter of fiscal 1997 and fiscal 1997 year end _________________________________ * Not applicable - no amounts reported in these previously filed Financial Data Schedules change as a result of the adoption of Statement of Financial Accounting Standards No. 128. EX-27.1 2
5 THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF NORTHLAND CRANBERRIES, INC. AS OF AND FOR THE 6 MONTHS ENDED FEBRUARY 28, 1998 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 1000 6-MOS AUG-31-1997 SEP-01-1997 FEB-28-1998 207 0 16,491 0 37,414 59,908 166,124 26,540 202,549 16,193 100,801 0 0 138 67,946 202,549 48,441 48,727 26,017 18,975 0 0 3,342 393 176 217 0 0 0 217 0.02 0.02
EX-27.2 3
5 THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF NORTHLAND CRANBERRIES, INC. AS OF AND FOR THE 9 MONTHS ENDED MAY 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 1000 9-MOS AUG-31-1996 SEP-01-1996 MAY-31-1997 186 1,260 8,635 0 21,787 34,452 159,959 22,189 176,129 10,160 79,669 0 0 138 67,788 176,129 34,496 34,810 16,233 10,010 0 0 3,156 5,411 2,157 3,254 0 0 0 3,254 0.24 0.23
EX-27.3 4
5 THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF NORTHLAND CRANBERRIES, INC. AS OF AND FOR THE 6 MONTHS ENDED FEBRUARY 28, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 1000 6-MOS AUG-31-1996 SEP-01-1996 FEB-28-1996 1,481 1,260 8,883 0 19,547 33,124 158,337 20,912 174,489 12,881 75,265 0 0 138 67,390 174,489 23,190 24,433 11,173 6,334 0 0 1,910 5,016 1,988 3,028 0 0 0 3,028 0.22 0.21
EX-27.4 5
5 THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF NORTHLAND CRANBERRIES, INC. AS OF AND FOR THE 12 MONTHS ENDED AUGUST 31, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 1 12-MOS AUG-31-1996 SEP-01-1995 AUG-31-1996 266,467 1,259,548 2,631,434 0 12,414,426 18,617,497 141,098,591 18,609,490 145,484,619 12,067,187 52,978,095 0 0 133,705 60,183,370 145,484,619 36,390,156 37,607,845 16,516,785 7,020,416 0 0 2,657,067 11,413,577 4,509,000 6,904,577 0 0 0 6,904,577 0.48 0.50
EX-27.5 6
5 THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF NORTHLAND CRANBERRIES, INC. AS OF AND FOR THE PERIOD ENDED MAY 31, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 1000 9-MOS AUG-31-1996 SEP-01-1995 MAY-31-1996 182 1,260 3,736 0 9,829 19,143 131,925 17,572 138,910 15,311 41,685 0 0 67 59,850 138,910 31,299 32,359 13,748 4,108 0 0 1,998 12,505 4,931 7,574 0 0 0 7,574 0.57 0.55
EX-27.6 7
5 THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF NORTHLAND CRANBERRIES, INC. AS OF AND FOR THE PERIOD ENDED FEBRUARY 29, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 1000 6-MOS AUG-31-1996 SEP-01-1995 FEB-29-1996 200 1,260 16,818 0 4,302 28,865 125,322 16,649 142,291 10,602 51,393 0 0 66 59,815 142,291 24,714 25,684 11,188 2,088 0 0 1,338 11,070 4,351 6,719 0 0 0 6,719 0.51 0.49
EX-27.7 8
5 THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF NORTHLAND CRANBERRIES, INC. AS OF AND FOR THE PERIOD ENDED NOVEMBER 30, 1995 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 1000 3-MOS AUG-31-1996 SEP-01-1995 NOV-30-1995 250 1,260 19,563 0 5,751 29,129 121,794 15,742 141,156 13,088 48,028 0 0 66 59,307 141,156 20,840 21,703 9,534 737 0 0 616 10,816 4,246 6,570 0 0 0 6,570 0.50 0.48
EX-27.8 9
5 THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF NORTHLAND CRANBERRIES, INC. AS OF AND FOR THE 5 MONTHS ENDED AUGUST 31, 1995 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 1000 5-MOS AUG-31-1995 APR-01-1995 AUG-31-1995 361 1,260 710 0 654 11,740 118,988 14,879 121,745 10,583 45,538 0 0 63 59,050 121,745 781 890 1,400 1,907 0 0 1,920 (4,337) (1,689) (2,648) 0 0 1,249 (1,399) (0.15) (0.15)
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