Food Technology Service, Inc. (NASDAQ:VIFL) today announced results for the first quarter of 2008. Revenues were $558,869 during the first quarter of 2008 compared to revenues of $480,517 for the same period in 2007. This is an increase of 16.3 percent. The Company had net income during the first quarter of 2008 of $76,554 compared to net income of $64,802 during the first quarter of 2007. This is an increase of about 18.1 percent.
Food Technology Service, Inc. CEO, Dr. Richard Hunter, said, â€œRevenue growth has been very good during the past year and I am particularly pleased with increasing medical sterilization business. Interest in food irradiation remains high and I believe that segment of our business continues to have great potential.â€
Food Technology Service, Inc. provides irradiation services for medical products, food items and consumer goods to enhance the safety of those products. The Company is certified to ISO 13485:2003 standards for the provision of radiation sterilization services for medical devices.
Except for historical matters contained herein, the matters discussed in this press release are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and involve risk and uncertainties that may affect business and prospects and cause actual results to differ materially from these forward-looking statements.
Food Technology Service, Inc., Mulberry
Richard G. Hunter Ph.D., President/CEO, 863-425-0039