BNET Industries

Market Cap:$6.3M
Last Fiscal Year Sales:$2.5M
  • Public
  • US
Dow Jones Description

Food Technology Service, Inc., (the "Company") was organized as a Florida corporation on December 11, 1985. The Company owns and operates an irradiation facility located in Mulberry, Florida that uses gamma radiation to provide contract sterilization services to the medical device, food and consumer goods industries. The Company also irradiates packaging, spices and ingredients. The Company's revenue for 2008 ($2,507,078) resulted primarily from the processing of medical items and food. The Company continues to diversify its customer base, however three customers accounted for approximately 67% of revenues in 2008. During the past few years, the Company has aggressively pursued sterilization of medical devices to increase its customer base. Medical device manufacturing is expanding rapidly due to improvements in medical technology and an aging population structure in the U.S. The Company is certified to International Organization for Standardization (ISO) standards for radiation sterilization of medical devices, which is especially important for potential customers exporting medical products to the EU and Canada. Medical device sterilization represented approximately 70% of revenues in 2008. The State of Florida is now the second leading state in the U.S. for FDA registered medical device companies.

President, Chief Executive Officer and DirectorRichard G. Hunter
Number of Employees 13
Contact Information

502 Prairie Mine Rd

Mulberry, Florida 33860

www.foodtechser...

(863) 425-0039

NAICS Code : 516110

Recent Events

  • Food Technology Service, Inc. Reports Earnings

    3/30/09 - Financial Announcement - View Story

News & Analysis

food technology service inc. - All News and Analysis

Additional Resources

  • Food Technology Service, Inc. Reports Earnings

    - 2009-05-14

    MULBERRY, Fla. -- Food Technology Service, Inc., (Nasdaq:VIFL) today announced results for the first quarter of 2009. Revenues were $674,830 during the first quarter of 2009 compared to...

  • Food Technology Service, Inc. Reports Earnings

    - 2009-03-30

    MULBERRY, Fla. -- Food Technology Service, Inc. (Nasdaq:VIFL) today announced financial results for the year ending December 31, 2008. Food Technology...

  • Research and Markets: Food Irradiation Trends - Global Strategic Business Report

    - 2009-02-12

    DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/research/388acd/food_irradiation_t) has announced the addition of the "Food Irradiation Trends - Global Strategic Business Report" report to their offering. This report analyzes the worldwide markets for Food Irradiation Trends in Millions of US$. The report provides separate comprehensive analytics for the US,...

  • Focus on the World Food Irradiation Trends Market

    - 2009-01-06

    NEW YORK -- Reportlinker.com announces that a new market research report related to the Food processing industry is available in its catalogue. World Food Irradiation Trends Market http://www.reportlinker.com/p098346/World-Food-Irradiation-Trends--Market.html This report analyzes the worldwide markets for Food Irradiation Trends in Millions of US$. The report...

  • Food Technology Service, Inc. Reports Earnings

    - 2008-11-11

    MULBERRY, Fla. -- Food Technology Service, Inc., (Nasdaq:VIFL) today announced results for the third quarter of 2008 and for the first three quarters of 2008. Revenues were a record $683,409 during the third quarter of 2008 compared to revenues of $576,197 for the same period in 2007. This is an...

  • Food Technology Service, Inc. Reports Earnings

    - 2008-08-11

    MULBERRY, Fla. -- Food Technology Service, Inc., (Nasdaq:VIFL) today announced results for the second quarter of 2008 and for the first half of 2008. The Company had record revenues of $623,061 during the second quarter of 2008 compared to revenues of $537,643 for the same period in 2007. This is...

  • Intertek Acquires Additional Food Analytical Expertise with Applica

    - 2008-07-22

    CHICAGO -- Food, like all other traded goods today, passes through a multitude of channels before it ends up on the very tables of the consumers who enjoy it. As a direct result, the very acknowledgement and essential understanding of all procedures, best practices, policies, and standards that took each...

Decision Makers

Name (plus bio) Position
Richard G. Hunter President, Chief Executive Officer and Director
Jim Jones Vice President, Sales & Marketing
Susan LeFrancois Director, Regulatory Affairs & Quality Assurance
Dana Carpenter Corporate Secretary
John Morrissey Radiation Safety Officer

Board of Directors

Name (plus bio) Position
David Nicholds Board of Directors
Gary H. Lifshin Board of Directors
John Corley Board of Directors
Michael W. Thomas Board of Directors
Ronald Thomas Board of Directors
Samuel P. Bell Board of Directors

Richard G. Hunter is a native of Oklahoma and received BS and MS degrees from Oklahoma State University. He completed a Master of Public Administration degree at the University of Oklahoma and received a Ph.D. in Environmental Health, also from the University of Oklahoma. Dr. Hunter was named President and CEO of FTSI in September, 2001. For the previous 12 years, Dr. Hunter was a senior manager with Florida's Department of Public Health. He was Florida's Deputy State Health Officer from 1995 through 2001, and was responsible for overall direction of about 11,000 employees dedicated to preventing illnesses from a variety of factors. In addition, he has held a variety of progressively responsible positions related to public health in state, local and federal agencies. Dr. Hunter serves as the Vice-Chair of the Florida Public Health Foundation, a non-profit organization dedicated to furthering public health in Florida. He has adjunct faculty appointments at the University of South Florida College of Public Health, the Florida A&M University Institute of Public Health and the Florida State University College of Medicine. Dr. Hunter has received several professional awards for his disease prevention activities and has served on numerous local, state and federal government advisory boards relating to public health issues. He is the author of 23 scientific papers.

Organization Position Status
Food Technology Service, Inc. President, Chief Executive Officer and Director Current
Florida.Com Inc Deputy State Health Officer Former
Food Technology Service, Inc. Board of Directors Former
The University of Oklahoma PH.D. In Environmental Health Former
The University of Oklahoma Master of Public Administration Degree Former
Oklahoma State University MS Degrees Former
Oklahoma State University BS Former

Jim Jones joined the Company in 1998 and is Vice-President of Sales and Marketing. He obtained his Business degree, with concentrations in Marketing and Production Management, from East Carolina University in 1984. He has an extensive background in both Sales and Production. In his career he has held positions as a Plant Manager, Sales Manager, National Accounts Manager and VP Operations. He serves on the Marketing Planning Committee for the American Meat Institute, is an active member of the South Florida Manufacturing Association and the Food Irradiation Processors Alliance, and was most recently appointed to the board of directors of the Florida Medical Manufacturers Consortium.

Organization Position Status
Food Technology Service, Inc. Vice President, Sales & Marketing Current
Florida Medical Manufacturers' Consortium, Inc Co-Chair, Geary A. Havran, Ndh Medical Current
Florida Medical Manufacturers' Consortium, Inc Board of Directors Former
East Carolina University Degree Former

Susan LeFrancois, Ph.D. has served as Director of Regulatory Affairs and Quality Assurance since joining the Company in February, 2005. Dr. LeFrancois earned her bachelors degree in chemistry, cum laude, from the University of South Florida in 1999. She received her Ph.D. degree in pharmacology from the University of Florida in 2004. She has completed continuing education courses in FDA Part 820 compliance, ISO 13485:2003 certification requirements, radiation safety and radiation dosimetry system applications.

Organization Position Status
Food Technology Service, Inc. Director, Regulatory Affairs & Quality Assurance Current
Food Technology Service, Inc. Manager, Regulatory Affairs & Quality Assurance Former
University of Florida PH.D. Degree In Pharmacology Former
University of South Florida Bachelors Degree In Chemistry Former
University of South Florida Degree, Chemistry Former
Organization Position Status
Food Technology Service, Inc. Corporate Secretary Current
Food Technology Service, Inc. Secretary Current
Organization Position Status
Food Technology Service, Inc. Radiation Safety Officer Current

David Nicholds, age 61, has served as a Director of the Company since September 1998. He joined MDS Nordion in 1989 and served in various capacities until his retirement in October 2005, at which time, he was serving as Vice President, General Counsel and Corporate Secretary. Mr. Nicholds is a board Director for a number of companies in North America and Europe and has been involved in corporate governance and the irradiation industry for many years.

Organization Position Status
Food Technology Service, Inc. Board of Directors Current
MDS Nordion Former

Gary H. Lifshin, age 52, has served as a Director of the Company since May 2008. He has been a financial manager with the University of South Florida since 2005. He has approximately thirty years of experience in a variety of financial management positions. These include acting as an accounting consultant to small and mid-size businesses for the George S. May International Company and as controller of Evolutions Healthcare Systems, Inc. Mr. Lifshin earned a Bachelor of Science degree in Accountancy from Bentley College in 1978.

Organization Position Status
University of South Florida Financial Manager Current
Food Technology Service, Inc. Board of Directors Current
Bentley College Bachelor of Science Degree In Accountancy Former

John Corley, age 63, has served as a Director of the Company since October 2005. He was awarded a Bachelor of Science in Mechanical Engineering and a Masters of Business Administration from the University of Toronto. He joined MDS Nordion in 1994 as Vice- President, Ion Technologies and named Senior Vice-President in 1997 for the Ion Technologies Business Unit as well as various corporate service functions. Mr. Corley retired from MDS Nordion in December 2005, and continues to be active in the industry through his role as a Director on the Board of International Irradiation Association (iiA).

Organization Position Status
Food Technology Service, Inc. Board of Directors Current
I-On Technologies, Inc. Vice President Former
MDS Nordion Vice President Former
Organization Position Status
Food Technology Service, Inc. Board of Directors Current
Organization Position Status
Food Technology Service, Inc. Board of Directors Current
Clemson University Professor and Chair Former
Clemson University Doctorate Degrees Former
Clemson University Masters Former
Organization Position Status
Cardomain Network, Inc. Vice President, Marketing, Product Management & Business Development Current
Cantley & Associates, LLC. Current
Tourist Development Tax System Current
Food Technology Service, Inc. Board of Directors Current
University of South Florida President Former
Wharton Graduate School of the University of Pennsylvania MBA Former
Duke University Law Degree Former
Duke University B.A. In Economics Former
Dartmouth College Bachelors' Degree Former
Duke University Degree Former
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     VIFL $2.35 -0.09 (-3.69% )
Average Volume 27,565
Shares Outstanding 2.76M
Market Cap 6.5M
Year High 3.08
Year Low 0.8
Earnings Per Share 0.42
P/E Ratio 5.60
Dividend N/A
Yield N/A
Glass Door

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