THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Saturday, May 13, 1995 TAG: 9505130355
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
TYPE: Daily Digest
LENGTH: Short : 24 lines
First-quarter sales for Harmony Products, a Chesapeake-based organic and organic-base fertilizer manufacturer and waste management company, decreased 21.9 percent as sales fell to $761,000. The net loss for the quarter was $574,000, or 27 cents per share, compared with a loss of $290,000, or 21 cents per share in the first quarter of 1994. The slide in sales came almost entirely in the retail sector of the company's business. With the loss during the first quarter, the company's capital and surplus fell below NASDAQ's minimum requirements. It will be removed from the NASDAQ Small Market and will be traded on the NASDAQ Bulletin Board, which signifies a loss in prominence. (Staff) by CNB