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Diamond Ranch Foods Shows Profits

24 November 2010

US - Diamond Ranch Foods, a regional meat processing and distribution company, has reported a net income of $79,913 for the second quarter ended 30 September, compared to a net loss of $89,952 for the same quarter of 2009.

For the second quarter of 2010, revenues were $1.93 million, compared to $1.87 million, for the corresponding quarter of fiscal 2009.

Net loss for the six months ended September 30, 2010 was $213,068 compared to a net loss of $248,548 for the same period of 2009. Revenues for the six months ended September 30, 2010 were $4.14 million, compared to $3.6 million for the same period of 2009.

Victor Petrone, CFO of Diamond Ranch, said: "Generating overall profits for the quarter, in addition to income from operations, is an important milestone for the company. As we roll out our growth strategy for 2011, it is imperative that all aspects of our operations be able to stand alone as profitable, thriving businesses. While we still have a lot of work to do to trim operational costs, we are confident that we are taking the necessary steps to enhance shareholder value and long-term growth."

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