Smart Balance drops to new 52-week low on Q4 loss
Shares of Smart Balance, Inc. (Nasdaq: SMBL) have lost their poise and fallen to a new 52-week low on news before the start of trading of a wider fourth-quarter loss. The Cresskill, N.J.-based food products company widened its quarterly loss to $48.5 million, or $1.41 per share, from $11.1 million, $0.77 per share, a year earlier.
At the same time, net sales jumped 26.4% due to higher prices in some food categories and increased consumer demand for peanut butter, cooking oil and mayonnaise.
At 1:49 p.m. ET, shares were down $1.01, or 15%, to $5.64. The previous 52-week low of $6.40 was established on March 13. For detailed price information and recent news stories about Churchill Downs, click SMLB.
At the same time, net sales jumped 26.4% due to higher prices in some food categories and increased consumer demand for peanut butter, cooking oil and mayonnaise.
At 1:49 p.m. ET, shares were down $1.01, or 15%, to $5.64. The previous 52-week low of $6.40 was established on March 13. For detailed price information and recent news stories about Churchill Downs, click SMLB.
About the Author
Reporter Alex Alexandrov is based in SmallCapInvestor.com's Washington, D.C. bureau.
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