Kelowna-based fruit juice maker Sun-Rype Products Ltd. (TSX:SRF) rang up a loss for the year because of a labour dispute that didn't end until February 2008.
Net sales fell 7.2% to $125.4 million from $135.1 million in 2007. A 20% increase in the cost of sales pushed the company to a net loss of $11.7 million compared with a $4.6 million profit in 2007.
Sun-Rype said that higher raw material and distribution costs and costs associated with the strike were the primary reasons for the annual loss. The company added that the four-month labour disruption limited its ability to manufacture, distribute and promote its products for much of 2008.
It said it spent much of the year re-establishing inventories, customer service and market share.
Sun-Rype's share price range during the past week: between $6.55 and $7; 52-week high: $11.99; 52-week low: $4.29.