Vestro Foods Reports $116,000 in Net Income for 3rd Quarter

Vestro Foods Inc., the Newport Beach specialty-food company, said its net income for the third quarter totaled $116,000, compared to $24,000 in the same period last year. Sales were up 6%, to $9.3 million from $8.8 million.

The 1991 figure included a gain of $24,000 from use of a net operating loss carry-forward, while the 1990 period included an extraordinary charge of $116,000 from an adjustment to tax benefits.

For the first three quarters of 1991, net income rose to $558,000 from $182,000 for the comparable 1990 period. Sales increased by 16%, to $28 million from $24.1 million.

Alfred Strogoff, president and chief executive, said that Vestro improved its operations largely through a corporate program to reduce fixed expenses.