Pieno Zvaigzdes, AB Reports Earnings Results for the Third Quarter Ended September 30, 2019
December 02, 2019 at 10:06 am EST
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Pieno Zvaigzdes, AB announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced sales was EUR 44.730 million compared to EUR 44.346 million a year ago. Operating income was EUR 3.113 million compared to EUR 2.083 million a year ago. Net income was EUR 2.885 million compared to EUR 1.863 million a year ago. Basic earnings per share was EUR 0.06 compared to EUR 0.04 a year ago. For the nine months, sales was EUR 128.878 million compared to EUR 130.842 million a year ago. Operating income was EUR 4.592 million compared to EUR 4.009 million a year ago. Net income was EUR 3.909 million compared to EUR 3.271 million a year ago. Basic earnings per share was EUR 0.09 compared to EUR 0.07 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 
