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HORIZON ORGANIC PRODUCTS OFFERED IN STARBUCKS STORES
FOR IMMEDIATE RELEASE: October 1, 2001
HORIZON ORGANIC PRODUCTS OFFERED IN STARBUCKS STORES
Company On Track for Third Quarter 2001
BOULDER, Colorado (October 1, 2001) - Horizon Organic (Nasdaq:
HCOW),
the nation's leading organic brand, today announced that Horizon
Organic yogurt is now available at Starbucks, the leading retailer,
roaster and brand of specialty coffee in the world. Horizon Organic
also stated that it is on track to meet expectations in the third
quarter of 2001.
Earlier this summer, select Starbucks retail locations began selling
three flavors of Horizon Organic branded yogurt. Consumer reaction
was positive and, as a result, the yogurts will be offered in approximately
1,000 Starbucks locations nationwide by this fall.
"We are excited to be working with a company the caliber of
Starbucks," said Chuck Marcy, president and chief executive
officer of Horizon Organic. "We believe that Starbucks and
Horizon Organic consumers share similar values, beliefs and a passion
for great food. We are pleased that these consumers will now be
able to find organic dairy products at their local Starbucks."
"Starbucks looks to offer customers products from leading
companies and Horizon Organic is a brand recognized for high quality,
great tasting dairy products," continued Marcy. "This
is a great starting point to further our association with Starbucks.
We are currently evaluating several additional products that could
be marketed through Starbucks retail stores in the U.S. as well
as internationally. We look forward to making further announcements
as more products are introduced."
Horizon Organic also announced today that the company is on track
to achieve record revenue and meet consensus estimates for its third
quarter 2001 ending September 30, 2001. As reported previously,
the company anticipates earnings per share to reach $0.04 to $0.06.
"We are pleased our sales growth is strong and profitability
continues to improve," said Marcy. "The initiatives we
have put in place continue to have the desired impact, and we are
comfortable with year end consensus estimates. We also anticipate
third and fourth quarter 2001 revenue and earnings to be an significant
improvement over the same period last year."
Horizon Organic produces and markets the leading brand of certified
organic milk and a full line of refrigerated, certified organic
dairy products. The company also markets certified organic eggs
and juices. The company's products can be found in conventional
supermarkets and natural foods stores across the U.S. and in the
U.K. For more information, please visit the Company's web site at
www.horizonorganic.com.
Note on Forward-Looking Statements: This news release contains
forward-looking statements that involve risks and uncertainties.
Future events may differ materially from those discussed herein,
due to a number of factors, including uncertainties related to the
company's ability to continue strong growth, to achieve distribution
and operational efficiencies, and to expand domestically and internationally,
as well as increased milk costs, inbound and outbound freight and
distribution costs, higher costs related to new-product introductions
and increased personnel costs. These factors and others are more
fully discussed in the company's Annual Report on Form10-K for the
year ended December 31, 2000.
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