Winn Reports Deepening Losses, Increased Revenues

Winn Enterprises, which last month moved into the Los Angeles offices of its Knudsen Foods subsidiary, Tuesday reported deepening losses on improved revenues during the quarter and the nine-month period ended Dec. 31.

The former Anaheim-based company posted a third-quarter loss of $4 million, compared to a loss of $1.1 million a year earlier. Revenues for the period more than doubled to $300.7 million from $129 million.

For the nine months, Winn posted a net loss of $6.3 million contrasted with net earnings of $1.2 million a year earlier. The nine-month loss included extraordinary charges totaling $4 million, including some from its recent acquisitions.

Revenues for the nine-month period totaled $762.9 million, an increase of 86% from $408.8 million a year earlier.

Last June Winn’s wholly-owned Knudsen subsidiary acquired Foremost Dairies of San Francisco for $50 million in cash and notes. Together, the two dairy units account for about 95% of Winn’s revenues, the company said.