Menu Foods Reports Loss Of $62 Million In 2007

Menu Foods

Menu Foods Income Fund reported this week that it lost $62 million and sales dropped 31 per cent in 2007.

The company said its annual loss was worth $3.24 cents per share compared to a profit of $6.4 million or 35 cents per share in 2006.

“It would not be an overstatement to say that 2007 was the most unsettling time in Menu’s 37 year history,” Menu Foods said in a release.

Sales in the year ended Dec. 31 were $244.8 million compared to sales of $356.2 million in 2006.

In the fourth quarter, the company lost $21.7 million or $1.11 per share on sales of $55 million compared to a profit of $1.8 million or 9.4 cents per share on sales of $87.9 million for the same quarter last year.

Source: Canada East Online

(Thanks 3catkidneyfailure)

37 Responses to “Menu Foods Reports Loss Of $62 Million In 2007”

  1. Lynne says:

    That karma thing’s a bitch, ain’t it?

  2. shibadiva says:

    “Menu Foods began a recall in March 2007 after some pets became sick, and several died of kidney failure, after eating its products.” Several?

  3. Carol says:

    “It would not be an overstatement to say that 2007 was the most unsettling time in Menu’s 37 year history,” Menu Foods said in a release.”

    It would not be an overstatement to say that 2007 was the most unsettling time in Carol’s 50 year history of loving her beloved four legged friends….due to simply feeding her cats.

  4. 5CatMom says:

    Wheat gluten?

    Come on Menu! Wasn’t it really WHEAT FLOUR?

    You guys still don’t know the difference between wheat flour (it’s white) and wheat gluten (it’s yellow).

    What about those little brown bits? Wheat gluten doesn’t have brown bits.

    Did you even look at the stuff before you dumped it into the mixer and killed thousands of pets?

    Ever heard of the global supply chain? Ever heard of tainted food from China and elsewhere?

    Ever heard of QUALITY CONTROL?

  5. Anonymous says:

    Sales in the year ended Dec. 31 were $244.8 million ?????

    It’s of my opinion,,,,,they made $244.8 million to much.

    Why is any company continuing to use them ???????

  6. Nora and Rufus says:

    WHATEVER! The bastards are still rich and most of the same people if not more are still buying IAMS, EUKANUBA, OLD ROY, SCIENCE DIET…(most of the shelters get it for free) and the rest of the poison trash…..too many people are just not enlightened enough to be concerned. They are brain washed.

  7. Penny says:

    Let’s see.

    Menu didn’t test their “wheat gluten”, and in January, we learned that Diamond didn’t test their corn.

    I’m starting to see a pattern here.

    Are any of these companies really in the food business, or are they just recycling garbage?

  8. Cathy says:

    Sounds like they have enough money to pay people back for all of the sickness and death they caused. What’s the hold up?

  9. Carol says:

    Let’s not forget per the recent indictment of CN that in early January of ‘07 there was a complaint to CN about the moisture content of the newly supplied “wheat gluten” so somebody somewhere knew something was different—-if it wasn’t MF then why not???

    And let’s not forget it was supposedly during routine feeding trials at MF that the cats and dog died–in February–still no red flag!

    Idiots

  10. Louis says:

    MENU FOOD’S QUALITY CONTROL MANUAL

    Garbage in, garbage out.

  11. Don Earl says:

    I was just going through Menu’s financial report. It’s always interesting how the disclosures change over time.

    I’m sure most of us remember the recall of 60 million cans of pet food was the result of two customer complaints. Ya know, the ol’ abundance of caution thing.

    Now, while waffle worded, the related statement is more along the lines of they used the customer complaints to build up a statistical universe to identify gluten as the culprit. In other words, something along the lines of the technique of polling a few thousand voters to get a representative sampling.

    They knew. They knew for a long time.

    Also of interest in the filing is supposedly they’re in the process of cutting a deal on the Federal class action, and a report is due to be filed in the case today.

    In the mean time, Menu has sorted the returned pet food into two categories: the part it doesn’t care if plaintiffs get hold of, and the part they want destroyed at all costs. I’ve been up to my ears in aligators trying to see some part of that body of evidence is preserved, but it’s hard saying how it’ll turn out.

    If that evidence goes missing, it’s gone forever. The smoking gun gets thrown out with the trash and a whole bunch of people whose pets were murdered will never see anything that looks like justice.

  12. Jeannie says:

    This explains what happened at Menu:

    If Menu Foods Were To Tell The Truth

    http://www.youtube.com/watch?v=8KRwv8TkRTg

  13. Carol says:

    What little food I have left during the recall dates won’t go anywhere near the garbage until each and every packet is tested—-it may take a while but someday I will know the truth of what I bought—at least I didn’t do what they said to and return it—-

    One of the worst parts for me, right up there with poisoning my two cats, is what the recall process has done to me as a person—I would never have taken delight in seeing a company fail prior to the spring of 2007—and I thank MF for that—I tried to ask them to help me from March 17th at 5am—I truly thought they would want to know that both of my cats were in ARF and I had food from the recall and prior—I couldn’t understand why they wouldn’t want my info—they were only claiming a few isolated cases in the US and I had two of them and I wanted them to know—-I even thought they might want to start taking medical care of my cats in helping find out the problem—boy was I naive then, but thanks to how they have handled this disaster, I have smartended up and see big business for what it is (IMO)

  14. Hazel Chambers says:

    Don’t forget guys that the CFO of Menu sold a bunch of stock just before the story came out….claimed it was just a coincidence….any one want to buy swamp land in Florida.

    Also….they have a LONG history of mistreatment of their “test” animals.

  15. furmom says:

    Menu foods lost money, boohoo, cry me a river. What worries me is not what we do know, bad enough. It’s what we don’t know, all the silent recalls, how long did all this go on, how many foods we strongly suspect but there’s been no real investigation. How are these people allowed to still be iin business? Let the buyer beware, and business goes on as usual.

  16. 3catkidneyfailure says:

    May everyone who profited from this disaster be charged with
    the crimes they committed:
    “You are responsible for the content of the food
    ingredients that you’re selling and therefore can be charged with the
    misdemeanor if you distribute adulterated or misbranded food, regardless of whether you knew if it was adulterated or misbranded.” –
    John Wood, U.S. Attorney Kansas City 2008 interview

  17. Nora and Rufus says:

    Carol, It is called a COVERUP. They knew. They lied and sold it anyway and murdered our family members after they murdered the poor animals that they held prisoners and then poisoned ON PURPOSE, because they already knew what was happening..

  18. Katie says:

    Furmom; I agree with you, it’s bad enough knowing what has been found but it is even worse not knowing what is still happening.

    Carol; I believe it’s called a Coverup too. I believe the companies knew and just hoped they wouldn’t get caught as well as hoping the media and pet owners would forget.

    Since last March; everything for me as a consumer has changed. Everything for my surviving pet has changed. Everyday I worry what the next day will bring for her.

    Feel sorry for Menu - NEVER! Feel sorry for members of PFI -NEVER!

    Katie

  19. JJ says:

    As Kaffe had stated in the forums these companies are just “PIMPING POISON” to all the beloved pets out there. Menu Foods is getting its comeuppance but never forget they are not the ONLY pet food company still PIMPING POISON out there. Stop buying all the garbage and believing these companies are changing their ways-they are not. Maybe the packaging is different and you think the food is improved - its not. They will continue to PIMP POISON as long as you continue to buy it.

  20. Velvet's Dad says:

    I agree with all the above.

  21. petrescue in Florida says:

    why is it I cannot feel anything for Menu Food’s … And why is Menu Food’s still in business ?

  22. The Lioness says:

    Wow. So, we are supposed to care about their losing millions of dollars, while some people here have lost FAMILY MEMBERS? Uh, the only thing I have to say to MF is “Bite me.”

    To all of those who lost pets in this terrible, terrible series of events, my condolences. I’m really sorry for your losses!

    We’ve been very lucky. I check frequently for the foods I’m feeding. Luckily, so far, we’ve been OK.

    ~The Lioness

  23. Kate says:

    I could care less if they went out of business. It is because of their greed and lack of care that I have lost some of my closest friends. My friends are now fed only Purina products or cooked food that I prepare myself.

  24. anon says:

    Every single blowhard press release Henderson makes just makes me hate him more.

    Until the FDA or Justice slaps the cuffs on a CEO of a PFI member pet food company, and tells the truth about all the poisons, instead of parroting the melamine cover up story, then it is all just more of the same, blah, lie, cover up, more lying TV ads, blah, lie some more.

    Purina makes a lot of deadly pet food too, that Beneful kills more dogs than all the dog pounds in Texas.

  25. Anonymous says:

    So. Menu still in business. No one in jail (in U.S.) yet. FDA never releases full truth to the public - continues to protect the guilty. Pets still dead. PFI still profiting, still lying.

    But as you can see, WE HAVE NOT FORGOTTEN.

  26. Anonymous says:

    KUDOS TO DON EARL.
    KUDOS TO ITCHMO.
    KUDOS TO US.

  27. Denise says:

    Gosh i couldn’t have said it any better than all of you here. wheat, is bad for dogs and probably cats also, rice and wheat glutens are fillers too and cheap and even cheaper from china. I even threw all my pups rubber toys out they are made in china. I threw out her dishes made in china. I think if we search on ther internet we could find some stuff made in the US or Canda or other safe places. its tough and a little more costly. I bought Missy a bed for chirstmas. I ordered it from Care a lot and asked if it was made in the USA and it was. I was ok with Canada too but not china. I still see people buying this crap in the stores. alpo, wal- mart ol yellar so many more foods. Menu foods cheapened so much of this food with there cheap ingredients. My cat became ill in 2004 and I lost him. we did not know why and what happend to him. he was on Hills prescription food. It was made by Menu food and it was from the vet it was for his weight. I wished to god I would have pulled him off. Now looking back I am betting that was it. I feel missy 1/2 home cooking and 1/2 eagle pack hollistic chicken in the can. They are a small company but I am watching them too. I think going to a specialty pet store and asking questions and calling the company that makes the food and make sure they don’t farm anything out or buy anything out of the country. PEt Rescue in Florida, I agree with you no menu foods. why there are in business is people are still buying it. some of them are its crazy. i don’t get it either. we need to force them out of business and send a strong message. Yes they knew and they kept selling it. they don’t care so please everyone be carful.

  28. KAEfamily says:

    earning $244.8 million and lost $62 millions?!! By simple math they still come out ahead and they are crying?!! Oh, yeah, its CEO, CFO, and such aren’t getting their million plus fat bonus this time around. It’s not a loss until the company declares bankruptcy and shut down its business forever! We are a nation of consumers we have the power to shut down many businesses like Menu Food. The problem is we don’t all stick together for the common cause as long as the attitude of “It ain’t my problem why should I care?” is still alive. Well, the reality is first the pets die next it will be us because it’s not the dog food; it’s what makes up the ingredients. The same ones that are used in human foods! So wake up those selfish souls!!!

  29. Don Earl says:

    RE: “KUDOS TO DON EARL”

    No kudos due. It looks like my effort at the Federal level failed. As my suit involves non-recalled pet food, the judge evidently decided and I’m not a “purported class member”, and don’t have standing to raise an objection.

    The basic situation is this: Menu Foods made a pile of food it tagged “organized product”, which is missing entire days of production, that it wants plaintiffs to have. Menu Foods made a second pile of about 15 million packages of pet food that it wants to destroy. That pile consists of both recalled and unrecalled pet food. This body of evidence is tagged “unorganized product”.

    This is the stuff that is loaded with cyanuric acid, acetaminophen, as well as melamine and who knows what all else. So, if your cat ate a can of melamine gravy style pet food, and the next meal consisted of unrecalled cyanuric acid style pet food, and your cat dropped dead 5 days later, you will never be able to prove what happened, as all the evidence will be gone. Exit Menu Foods laughing.

    As close as I can tell, the attorneys for pet owners are in the process of cutting a deal to sell the pet owners down the river.

    For those who are purported members of the class, and may be interested in what’s going on, the case is:

    Civil Action No. 07-2867 (NHL)
    MDL Docket No. 1850
    IN RE: Pet Fod Products Liability Litigations

    The Judge is: Noel L. Hillman

    The address is:

    The United States District Court, District of New Jersey
    Mitchell H. Cohen Building & U.S. Courthouse
    4th & Cooper Streets Room 1050
    Camden, NJ 08101

    Phone : 856-757-5021

  30. Thel Josenhans says:

    I have one thing to say about , you lossing profits …………..
    I hope you all ………… rot in hell ,
    I lost three cat …………. & still nursing one cat , very ill, The vet ……………..no help ……..after spending over $500.00
    bought & sold by pet food co.’s
    Tells me …….. BULL_SHIT ………..Food allergy
    instead of ……….. food poison
    My two dogs were very ill, by the grace of God , chanced there food to ……….home cooking , 9 months ago , are now recoping .
    I only wish is people ……… who , can’t believe ……….. you still , have your poison ……..on the store , shelves.
    Menu food ……….. ROT _IN _HELL Thel

  31. Hazel Chambers says:

    Class action suits are just another way for the attorneys to make huge profits and those who actually suffered a lost get the proverbial shaft.

    John Graham has a really good novel based on this…the idea being that you accumulate lots of class actions….then reap huge amounts of money while those harmed get little.

  32. Don Earl says:

    RE: “Class action suits are just another way for the attorneys to make huge profits and those who actually suffered a lost get the proverbial shaft.”

    In theory, the concept of class actions isn’t a bad one. The idea is that those harmed often find it difficult or costly to bring a suit as an individual action. These firms do incure considerable costs in the course of bring these actions, with nothing out of pocket from those being represented. If they lose, they end up working for free. The problem is they’ve gotten lazy. They won’t take a case unless they think it’s a slam dunk. Then they settle too quickly to get a fast paycheck, rather than taking the bad guys to the mat and holding their feet to the fire.

    While I doubt the offer was made in good faith, Menu originally said they’d pay vet bills. The attorneys jumped on board and sued for vet bills. If the settlement offer is already on the table, there’s no need for the attorneys at all. On top of everything else, the attorneys locked pet owners out of settling directly with the company practically out of the gate on this one. The move was basically to force pet owners to pay a cut to a middle man a lot of them weren’t interested in dealing with in the first place.

    On the other hand, there are people who hire an accountant to fill out their 1040 EZ and are totally baffled by anything more complex than making change for a dollar. Without class action attorneys, they’d be cut out of the process completely.

    I don’t know what the solution is, but there’s definitely room for improvement.

  33. Anonymous says:

    http://tinyurl.com/ynnuyd KOS beef recall comment- right on the money:
    “Now, what is going to happen to that recalled beef?
    You know what? They sure as heck aren’t going to just… throw it away ! They will just put it back in the food chain in either other animal feed or pet food.
    Out of sight, out of mind. Problem “solved.”
    You can scream now. “

  34. Anonymous says:

    The KUDOS are for trying.
    Somone’s got to try, and you did.
    Thanks.

  35. One who Knows says:

    Trader Joe’s still has Menu Foods make their canned pet food, and perhaps the dry. I have not bought one bit since I found that out. Maybe it is time I write to Trader Joe’s again and remind them that we are not all dumb and blind.

    Hail to Innova Evo, Holistic Select and the like.

    DOWN WITH MENU FOODS, DIAMOND FOODS AND THE LIKE!!!!!!!!!

  36. One who Knows says:

    Also, when IAMs offered me a coupon for free pet food (through PetCo I think), I wrote them and said NO THANK YOU! AND, I told them exactly why. Lets all write Menu Foods and the companies that use them and tell them what we think, without the profanity, that is. humph

  37. Pheephee35 says:

    Hazel — It is John Grisham, and you can get it on tape too. The title is THE KING OF TORTS. I learned a lot about the class action process from this book.


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