TSX Venture Exchange: "WUF.V"
VERNON, BC, July 4, 2012 /CNW/ - Darford International Inc. ("Darford"),
today released its financial results for the year ended March 31, 2012.
Darford's total revenues for the year ended March 31, 2012 were
$7,881,440 compared to $5,937,682 for the year ended March 31, 2011.
The net loss for the year ended March 31, 2012 was $2,240,739 compared
to a net loss of $1,213,522 for the year ended March 31, 2011.
"The 2012 fiscal year certainly presented its difficulties, but the
company forged ahead with the launch of the new ZERO/G® pet food into
more than 300 retail accounts. By the end of the year, the company
experienced lower than anticipated sales trajectory and higher
placement costs for the food line. As a result, the company is
implementing costs reductions with an eye to regain margin and profits
as it re-focuses on its core treat line in the new fiscal year."
Darford President and CEO, Darcy Bomford.
Darford markets and manufactures treats and food for dogs under its own
Darford® brand name in Canada and in the United States. Darford also contract
manufactures products for well known North American brands.
Management's Discussion and Analysis, audited financial statements and
accompanying notes of Darford International Inc. for the year ended
March 31, 2012, are available on the Canadian Securities
Administrator's website at www.sedar.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 pet products industry and external market
factors. 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 forward looking information to reflect
later events or developments.
For more information please visit www.darford.com and www.ilovealldogs.org.
Neither the TSX Venture Exchange nor its Regulation Service provided (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this news
release. The TSX Venture Exchange Inc. has neither approved nor
disapproved the contents of this news release.
SOURCE Darford International Inc.
For further information:
Chief Financial Officer
Darford International Inc.
(250) 545 4430