Sun-Rype reports Q2 2009 financial results



    TSX:  SRF

    KELOWNA, BC, Aug. 4 /CNW/ - Sun-Rype Products Ltd. (TSX:SRF) today
released its financial results for the quarter ended June 27, 2009.

    Financial Highlights

    Sun-Rype's net sales in the second quarter of 2009 were $35.4 million,
compared to $33.1 million in the same period in 2008. The Company's net income
for the second quarter of 2009 was $2.7 million or $0.25 per share, compared
to a net loss of $5.1 million or $0.47 per share for the same period in 2008.
    Sun-Rype's net sales for the six-month period ended June 27, 2009, were
$76.4 million, compared to $54.4 million in the same period in 2008. The
Company's net income for the six-month period ended June 27, 2009, was $5.5
million or $0.51 per share, compared to a net loss of $9.3 million or $0.86
per share for the six-month period ended June 30, 2008.
    "We are very pleased with the results for the first half of 2009," says
David Lynn, President & CEO. "Sun-Rype is continuing to perform strongly this
year, despite the challenging economic and competitive environment."

    Sun-Rype Products Ltd., based in Kelowna, BC, is a manufacturer and
marketer of 100% juices and 100% fruit snacks under the Sun-Rype brand.
Sun-Rype is a publicly traded Canadian company with its common shares listed
on the Toronto Stock Exchange under the symbol SRF.

    Additional Information

    The foregoing are financial highlights only. The full second quarter
interim management's discussion and analysis, financial statements and
accompanying notes of Sun-Rype Products Ltd. for the period ended June 27,
2009, are available on the Canadian Securities Administrator's website at
www.sedar.com and on the Company's website at www.sunrype.com. Additional
information relating to Sun-Rype's operations can be found in the Company's
Annual Information Form, filed with all applicable Canadian securities
commissions and available for viewing on the Canadian Securities
Administrator's website at www.sedar.com and on the Company's website at
www.sunrype.com.

    Forward Looking Statements

    Statements contained in this press release, which are not based on
historical fact, including without limitation, statements containing the words
"may", "will", "plans", "intends", "expects", "anticipates", "believes",
"estimate", "continue" and similar expressions, constitute "forward looking
information" within the meaning of applicable Canadian securities laws.
Forward looking statements contained in this document may involve, but are not
limited to, statements relating to the Company's objectives, priorities,
strategies, actions, targets, expectations and outlook. Forward looking
statements are necessarily based upon assumptions and predictions with respect
to the future, including but not limited to the factors referred to below. As
a result, forward looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, events or
developments to be materially different from any future results, events or
developments expressed or implied thereby. These risks, uncertainties and
other factors include, but are not limited to, changes in the consumer
packaged goods industry and external market factors, as well as the factors
referred to in the Company's Annual Information Form dated February 26, 2009,
and its other filings with the applicable Canadian securities regulatory
authorities. In light of these uncertainties, assumptions and risks, readers
are cautioned not to place undue reliance on such forward looking statements.
Except as required by law, the Company assumes no obligation to update or
revise such information to reflect later events or developments.


    
                           Sun-Rype Products Ltd.
              Statements of Operations and Comprehensive Income
                                 (Unaudited)
             (in thousands of dollars, except per share amounts)

                                          For the              For the
                                      quarters ended       six months ended
                                      --------------       ----------------
                                    June 27,   June 30,   June 27,   June 30,
                                      2009       2008       2009       2008
    -------------------------------------------------------------------------

    Net sales                      $ 35,410   $ 33,088   $ 76,450   $ 54,474
      Cost of sales                  24,892     30,831     54,239     51,377
    -------------------------------------------------------------------------
      Gross profit                   10,518      2,257     22,211      3,097
    -------------------------------------------------------------------------

    Expenses
      Selling, general, and
       administrative                 6,524      9,498     13,295     16,574
      Amortization                      159        299        583      1,063
      Interest                          119        190        341        247
      Foreign exchange loss (gain)     (319)        99       (167)      (306)
    -------------------------------------------------------------------------
                                      6,483     10,086     14,052     17,578
    -------------------------------------------------------------------------

      Earnings (loss) before income
       taxes                          4,035     (7,829)     8,159    (14,481)
      Income tax expense (recovery)   1,353     (2,747)     2,661     (5,203)
    -------------------------------------------------------------------------

    Net income (loss) and
     comprehensive income (loss)   $  2,682   $ (5,082)  $  5,498   $ (9,278)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    Earnings (loss) per share
      Basic and diluted            $   0.25   $  (0.47)  $   0.51   $  (0.86)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    

    %SEDAR: 00001572E




For further information:

For further information: Don VanderZwaag, Director, Finance &
Accounting, cfo@sunrype.com or David Lynn, Chief Executive Officer,
ceo@sunrype.com; Sun-Rype Products Ltd., 1165 Ethel Street, Kelowna, BC, V1Y
2W4, Tel: (250) 860-7973, Fax: (250) 762-3611, www.sunrype.com


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