Pieno Zvaigzdes, AB Reports Earnings Results for the First Quarter Ended March 31, 2020
May 29, 2020 at 11:37 am EDT
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Pieno Zvaigzdes, AB announced earnings results for the first quarter ended March 31, 2020. For the first quarter, the company announced sales was EUR 41.889 million compared to EUR 39.259 million a year ago. Operating income was EUR 702,000 compared to operating loss of EUR 120,000 a year ago. Net income was EUR 458,000 compared to net loss of EUR 341,000 a year ago. Basic earnings per share was EUR 0.01 compared to basic loss per share of EUR 0.01 a year ago.
Pieno Zvaigzdes AB (Pieno Zvaigzdes JSC) is a Lithuania-based company involved in the production and sale of dairy products. Its product portfolio covers more than 500 different products, including milk, fermented milk and cheese, butter, cream, curd, yogurts, milk-based deserts, cottage and enzyme cheese, sour cream, ice cream and other milk products. The Company also produces low-fat milk powder and whey powder. The Company has four branches located in Mazeikiai, Pasvalys, Kaunas and Panevezys. The Company distributes its products through retail stores and distributors. Pieno Zvaigzdes AB sells its products domestically, the Russian Federation and the European Union countries. It holds such trademarks as: Bios, Baltija, Gamtos, Biola, MU, Kastinys and Smilga, among others. As of December 31, 2012, the Companyâs major corporate shareholder was Skandinaviska Enskilda Banken AB with a stake of 13.69%.
AB PIENO ZVAIGZDES 
