Eskimo Pie Decides To Lighten Up
Eskimo Pie Corp. said Monday it signed a licensing agreement with Weight Watchers Food Co. to make and distribute Weight Watchers ice cream products.
Terms were not disclosed.
Eskimo Pie said it expects the Weight Watchers products to add 10 cents a share to its net income this year and expects an additional $6 million to $7 million in revenues for the year.
For the year ended Dec. 31, 1993, the company reported earnings of $3.5 million, or 97 cents a share. Those figures were reduced by $1.35 million, or 37 cents a share, for an accounting charge.
The company said it expects to report its 1994 results in three weeks.
Eskimo Pie’s shares rose 62 cents, or 3 percent, to $19.37 a share on the Nasdaq Stock Market.
Weight Watchers is a subsidiary of H.J. Heinz Co. of Pittsburgh.