Kelowna's Sun-Rype Products Ltd. (TSX:SRF) is another casualty of the rapidly rising Canadian dollar.
Quarter-to-quarter net profits dropped 42% to $1.1 million for the juice and fruit snack manufacturer as it was hit with a $1.1 million foreign exchange loss during its third quarter ending September 30.
The dip in profits came despite increased revenue and reduced administrative costs.
Revenue rose to $35.4 million from $32.2 million in 2006's third quarter; gross profit fell slightly to $10.5 million.
Sun-Rype's share price range during the past week: between $12.39 and $12.50; 52-week high: $14; 52-week low: $12.25.