2005 Post 200
Cuisine Solutions Inc.
85 S. Bragg St., Suite 600
Alexandria, Va. 22312
www.cuisinesolutions.com
Industry: Hospitality/travel
Post 200 Category: Top 125 Companies
Revenue: $36.72 Million
Net Income/Loss: ($1,004,000.00)
Earnings per share: ($0.06)
Dividend: n/a
Stockholder equity: $6.57 Million
Auditor: n/a
Stock: FZN
Assets: $17.71 Million
Market capitalization: $73.50 Million
52-week high: 5.1 3/9/2005
52-week low: 1 5/3/2004
President and CEO: Stanislas Vilgrain
President, U.S.: Thomas Gregg
Employees: 230
Local employees: 180
Description: Cuisine Solutions makes prepared food, which it supplies in frozen, vacuum-packed pouches. Its products are served by airlines, trains, cruise ships, military installations, hotels and other outlets. The company was founded in 1972 as a wholesaler of French bread, then called Vie de France Corp.
Developments: Cuisine Solutions uses a process called "sous-vide," which involves vacuum-packing food in plastic, to make dishes like osso buco, pork shank with apricot glaze and tortellini with shrimp in lobster sauce. The dishes are cooked in plastic packets, then frozen, and the user reheats them by dropping the bag into simmering water. With many of its key customers in the airline and other tourism-related businesses, the company has suffered since the Sept. 11, 2001, terrorist attacks. However, in 2004 it regained its footing, as sales rose 32 percent and climbed above 2001 levels. The company was delisted from Nasdaq in 1998 because its stock price was too low and its shares traded in the over-the-counter market. But in the past year, its stock has been one of the region's best performers, rising from $1 per share to as high as $5. In February, its stock began trading on the American Stock Exchange.