Organic To Go posts FY results

SEATTLE — Irvine, Calif.-based SP Holding Corporation, dba Organic To Go, the nation's first fast-casual cafe certified as an organic retailer, reported financial results for the year ended December 31, 2006.

Revenues for the fiscal year increased 58 percent, up from $6.12 million in FY '05 to $9.66 million in FY '06.

Gross profits for the year increased 1 percent, up from $2.23 million in the prior year to $4.79 million. Net loss for the year was $7.97 million, compared with a loss of $5.66 million in 2005.

In February, Organic Holding Company Inc., operator of 13 Organic To Go cafes and a wholly-owned subsidiary of SP Holding Corp., went public after a reverse merger.

The company's stock is traded under the symbol SPHG.OB.