March 01, 2015 12:08 PM ET

Commercial Services and Supplies

Company Overview of Food Technology Service Inc.

Company Overview

Food Technology Service, Inc. owns and operates an irradiation facility in Mulberry, Florida. The company’s irradiation facility uses gamma radiation to provide contract sterilization services to the medical device, packaging, and food industries. It sterilizes medical, surgical, pharmaceutical, and packaging materials; disinfects fruits, vegetables, oysters, and meat products; and irradiates cosmetic ingredients, horticultural items, and consumer goods. The company was founded in 1985 and is based in Mulberry, Florida. As of March 5, 2014, Food Technology Service Inc. operates as a subsidiary of Sterigenics U.S., LLC.

502 Prairie Mine Road

Mulberry, FL 33860

United States

Founded in 1985

15 Employees

Phone:

863-425-0039

Key Executives for Food Technology Service Inc.

Vice President and Secretary
General Manager
Age: 62
Compensation as of Fiscal Year 2014.

Food Technology Service Inc. Key Developments

Food Technology Service Inc. Announces Management Changes

Food Technology Service Inc. announced in connection with the merger and as contemplated by the merger agreement, each of the members of the company's board of directors resigned effective as of the effective time. Under the Merger Agreement, each of the directors of Sterigenics Florida Acquisition Corp. immediately prior to the Effective Time, became the directors of the Surviving Corporation following the Effective Time. The company also announced that Richard G. Hunter, Ph.D. President, Chief Executive Officer and Chief Financial Officer prior to the effective time of the Merger, became General Manager of the company as of March 5, 2014.

Food Technology Service Inc.(NasdaqGM:VIFL) dropped from NASDAQ Composite Index

Food Technology Service Inc. will be removed from the NASDAQ Composite Index.

Food Technology Service Inc. Reports Earnings Results for the Third Quarter and Nine Months of 2013

Food Technology Service Inc. reported earnings results for the third quarter and nine months of 2013. For the quarter, the company reported revenues of $1,025,510 during the third quarter of 2013 compared to revenues of $925,654 for the same period in 2012. This is an increase of approximately 11%. The Company had net income during the third quarter of 2013 of $218,630 versus net income of $206,487 during the same period in 2012, an increase of approximately 5.9%. For the first three quarters of 2013, the company had revenues of $3,237,412 and net income of $763,753. Revenues during the first three quarters of 2012 were $2,996,094 and the company had net income of $739,671. Revenues increased by about 8% and net income increased by approximately 3.3% in the first three quarters of 2013 compared to the same period in 2012.

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