- Q3 marks 3rd consecutive quarter of sales growth
- Substantial decrease in operating expenses
- Improving picture on net losses
MUNDELEIN, Ill., Nov. 18 /PRNewswire-FirstCall/ -- Z Trim Holdings, Inc.
(OTC Bulletin Board: ZTMH) today announced 3rd quarter results that reflect
continued improvement in business fundamentals as the company proceeds with
its revised business plan.
'We made progress in an increasingly difficult economic environment,' said
Steve Cohen, CEO. 'While we have a way to go, the significant operational
shifts we've made over the past 9 months are beginning to reflect a pattern of
positive growth.'
Total Q3 2008 revenues more than doubled over those of Q3 2007 as the
company concentrates its marketing efforts on the versatility and
functionality of its products to the food industry. In comparing the nine
month span ending September 30, 2008 with that of the previous year, the
current YTD revenues reflect a small decrease, attributable primarily to a
drop in sales of Z Trim to consumers via the Internet. 'We anticipated an
initial dip in revenues marking the transition, followed by growth,' Cohen
said. 'So far the results of that shift are trending as projected, based on
3rd quarter gains,' he added. 'Our target customer is the food manufacturer,
not the end user, and we have substantially increased our sales to our target
markets.'
A substantial reduction in operating expenses was realized during the 3rd
quarter as management was able to decrease professional fees paid to outside
lawyers and accountants, as well as undertaking other belt tightening actions
such as transferring to the OTC Bulletin Board, downsizing staff, and
remaining vigilant on sourcing costs. Management believes the impact of these
measures will be felt even more strongly in future quarters.
Q3 2008 net losses decreased 66% from the same period last year, further
suggesting progress toward the Company's goal of establishing Z Trim as an
important ingredient in revolutionizing the food industry.
'We have a food solution that outperforms many other systems, and
represents a new approach to food formulation,' Cohen said. 'We look forward
to working with the industry to maximize their use of, and benefit from, Z
Trim.'
ABOUT Z TRIM(R)
Z Trim Holdings, Incorporated, http://www.ztrim.com, partners with the
food industry in the deployment of solutions and technologies built around
cutting edge dietary fibers, blends and custom emulsions.