EXHIBIT 99.1
POORE BROTHERS FIRE DAMAGE UPDATE:
GOODYEAR PLANT RESUMES PARTIAL PRODUCTION
January 9, 2001 - Poore Brothers, Inc. (Nasdaq: SNAK) today provided an
update regarding previously announced damage sustained at its Goodyear, Arizona
production facility as the result of a fire that occurred on October 28, 2000.
The Company reported that its Goodyear production facility has resumed full
production of private label potato chips and as previously communicated expects
to resume full production of kettle-cooked potato chips later in the first
quarter of 2001. The Company also announced that it has completed repairs to the
damaged roof area and is now focused on completing repairs to damaged equipment
utilities that support its kettle-cooked potato chip production line. There was
no major damage to processing equipment or any other area of the plant,
including the packaging and warehouse areas.
Third party manufacturers continue to provide Poore Brothers with
production volume sufficient to satisfy nearly all customer needs, though the
Company did significantly reduce promotional activity in the fourth quarter to
ensure product supply to customers. As previously communicated, the Company
believes that its property and business interruption insurance and its
aggressive actions taken to ensure product supply should mitigate the potential
adverse impact from the fire on fourth quarter 2000 and first quarter 2001
operating results.
Mr. Eric J. Kufel, President and CEO, stated, "We are extremely pleased to
have resumed full production of private label potato chips and are working
aggressively to complete repairs to kettle-cooked potato chip equipment
utilities to resume full plant production as expeditiously as possible. The
Company's ability to effectively manage this short-term crisis reflects the
quality and commitment of our associates, who remain dedicated and passionate
about achieving our long-term goal of $100 million in revenue," continued Mr.
Kufel.
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Poore Brothers is a rapidly growing manufacturer, marketer and distributor
of "intensely different" salted snacks based in Goodyear, Arizona with
manufacturing facilities in Goodyear, Arizona and Bluffton, Indiana. The
Company's primary emphasis is manufacturing T.G.I. Friday's(TM) brand snack
chips, Poore Brothers(R) brand potato chips, Bob's Texas Style(R) brand potato
chips, Boulder Potato Company(TM) brand potato chips, Tato Skins(R) brand potato
snacks, and Pizzarias(R) brand pizza chips. The Company also manufactures
private label potato chips for major retailers in Arizona and California and
operates a direct store delivery distribution business in Arizona and a snack
food merchandising company in Texas.
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For further information about Poore Brothers or this release, please
contact Thomas W. Freeze, Sr. Vice President and Chief Financial Officer, at
(623) 932-6200, or logon to http://www.poorebrothers.com.
Statements contained in this press release that are not historical facts
are "forward looking" statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. Because such statements include risks
and uncertainties, actual results may differ materially from those expressed or
implied by such forward-looking statements. Factors that may cause actual
results to differ from the forward-looking statements contained in this press
release and that may affect the Company's prospects in general include, but are
not limited to, the potential need for additional financing, acquisition-related
risks, significant competition, customer acceptance of new products, dependence
upon major customers, general risks related to the food products industry, and
such other factors as are described in the Company's filings with the Securities
and Exchange Commission.
