Northland's sales soarThis article was originally published in Foodnews
NORTHLAND Cranberries Inc, marketer of Northland brand 100% juice cranberry blends and Seneca brand fruit juice products, almost doubled its net income in the first quarter of the 2005 fiscal year. For the threemonth period ended 30 November 2004, Northland saw a net income of US$4.5 million on net revenues of US$23.1 million. In the same quarter in the previous year, the company made US$2.3 million on revenues of US$22.4 million. The increase resulted mainly from a gain of US$7.7 million on the sale of certain assets to Ocean Spray Cranberries Inc, offset by income tax expenses of US$3.0 million related to the gain.