For Immediate Release
April 7, 2004 |
Contact: James M. Williams, President and Chief Executive Officer, Ext. 118 (jimw@montereypasta.com)
Scott S. Wheeler, Chief Financial Officer, Ext. 141 (scottw@montereypasta.com)
Kevin J. Kiper, Marketing Planning Manager, Ext. 102 (kevink@montereypasta.com)
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•Company adds over 500 stores in 4 retail chains and 240 additional club stores
•Monterey enters New York – metro market
•Completes rollout of reduced carbohydrate CarbSmart® line to second largest warehouse club account
•Successful introduction of CarbSmart® continues
SALINAS, CA (April 7, 2004) – Monterey Pasta Company (NASDAQ: PSTA) announced today that it has gained significant new distribution of its reduced carbohydrate CarbSmart® pasta and sauce line. The Company has added 4 major retail chains, representing over 500 stores in the Eastern and Mid-Atlantic states.Of particular note is the Company’s entry into the New York – metro market in the ShopRite chain. The Company also announced that it had successfully completed full distribution of CarbSmart® items to its second largest warehouse club customer.
“We are pleased to announce the continued success of our CarbSmart line, and we are especially happy about strengthening our distribution in the Eastern United States.”, states Jim Williams, Monterey Pasta’s President and Chief Executive Officer. “The distribution gains that we are seeing here are further confirmation of the consumers’ and retailers’ enthusiasm about our CarbSmart® line.” The increased distribution in club stores is also a validation of the line’s continuing success.”
Other retailers adding the CarbSmart® line are: Tops Markets covering Western New York, Northern Ohio and Western Pennsylvania; Giant Food, Landover, MD, covering the Baltimore-Washington-metro area; and Giant Food Stores, Carlisle, PA, serving Pennsylvania, Maryland, Virginia and West Virginia.
Founded as a regional brand, Monterey Pasta now has national distribution in over 9,500 retail and club stores throughout the United States and selected regions of Canada, the Caribbean, Latin America, and Asia Pacific. Monterey Pasta manufactures USDA inspected, fresh gourmet refrigerated food products at its integrated 133,000 square foot corporate headquarters, distribution, and manufacturing facilities in Salinas, (Monterey County) California, and its 19,000 square foot organic production facility in Eugene, Oregon.
This press release contains forward-looking statements regarding our brand recognition, that involve uncertainties and risks that could cause actual results to differ materially from those discussed or implied in the forward-looking statements. Risks that could cause actual results to differ materially from those discussed or implied in the forward-looking statements, include risks associated with any reduction of sales to two major customers currently comprising a majority of total revenues, risks associated with timely and cost-effective introduction of new products in the coming months, risks associated with accomplishing the anticipated results of the recently-completed plant expansion program, risks associated with maintaining these new customers, the risks inherent in food production, and intense competition in the market in which the Company competes. The Company undertakes no obligation to update or revise publicly, any forward looking statements whether as a result of new information, future events or otherwise. For additional information regarding the specific risks mentioned and other risks, please read the Company's Annual Report on Form 10-K, for the year ended December 28, 2003, Reports of Material Event on Form 8-K filed February 5, 2004, and February 10,2004 and its Proxy Statement filed June 13, 2003.
