Global Seafood Technologi (GSFT.PK)

Global Seafood Technologies, Inc. has three core businesses: seafood, fishing bait and freshwater shrimp. The seafood segment performs full-service processing, packaging and storage of shrimp and other seafood products. The fishing bait segment packages and distributes recreational fishing bait products. The freshwater shrimp segment is engaged in the development and harvesting of farm-grown, freshwater shrimp through its hatchery and nursery facility. Global Seafood conducts its operations through its wholly owned subsidiaries, Custom Pack, Inc., Aquaculture Corporation of America and Killer Bee, Inc.

For the three months ended 6/03, net sales rose 10% to $3.2 million. Net income totaled $130 thousand, vs. a loss of $111 thousand. Revenues reflect an increase in volume at the Company's shrimp processing and packaging business and higher sales in the recreation bait segment. Net income also reflects improved operating margins.