SUN-RYPE REPORTS Q3 2010 FINANCIAL RESULTS

TSX: SRF

KELOWNA, BC, Nov. 5 /CNW/ - Sun-Rype Products Ltd. (TSX:SRF) ("Sun-Rype" or the "Company") today released its financial results for the quarter ended September 25, 2010. 

Financial Highlights

Sun-Rype's net sales in the third quarter of 2010 were $34.8 million compared to $36.1 million in the third quarter of 2009. The Company's net income in the third quarter of 2010 was $1.0 million or $0.09 per share, compared to net income of $0.4 million or $0.03 per share in the third quarter of 2009. 

Sun-Rype's net sales in the first three quarters of 2010 were $101.4 million compared to $112.6 million in the same period in 2009. The Company's net income in the first three quarters of 2010 was $2.8 million or $0.26 per share, compared to net income of $5.9 million or $0.54 per share in the same period in 2009. 

"Increased pricing pressure on beverage products, combined with lower sales volumes of food products, has contributed to lower net sales in 2010 in comparison to 2009. The resulting lower gross profit, combined with increased investment in marketing, has impacted net income in 2010," says Dave McAnerney, President & CEO. "The Company's financial position remains strong, with over $20 million in net current assets and no bank debt at the end of the third quarter of 2010."

Sun-Rype Products Ltd., based in Kelowna, BC, is a manufacturer and marketer of fruit-based juices and snacks. Sun-Rype is a publicly traded Canadian company with its common shares listed on the Toronto Stock Exchange under the symbol SRF.

Aditional Information
The foregoing are financial highlights only. The full third quarter interim management's discussion and analysis, financial statements and accompanying notes of Sun-Rype Products Ltd. for the period ended September 25, 2010, are available on the Canadian Securities Administrator's website at www.sedar.com and on the Company's website at www.sunrype.com. Additional information relating to Sun-Rype's operations can be found in the Company's Annual Information Form, filed with all applicable Canadian securities commissions and available for viewing on the Canadian Securities Administrator's website at www.sedar.com and on the Company's website at www.sunrype.com.

Forward Looking Statements
Statements contained in this press release, which are not based on historical fact, including without limitation, statements containing the words "may", "will", "plans", "intends", "expects", "anticipates", "believes", "estimate", "continue" and similar expressions, constitute "forward looking information" within the meaning of applicable Canadian securities laws. Forward looking statements contained in this document may involve, but are not limited to, statements relating to the Company's objectives, priorities, strategies, actions, targets, expectations and outlook. Forward looking statements are necessarily based upon assumptions and predictions with respect to the future, including but not limited to the factors referred to below. As a result, forward looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied thereby. These risks, uncertainties and other factors include, but are not limited to, changes in the consumer packaged goods industry and external market factors, as well as the factors referred to in the Company's Annual Information Form dated March 4, 2010, and its other filings with the applicable Canadian securities regulatory authorities. In light of these uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward looking statements. Except as required by law, the Company assumes no obligation to update or revise such information to reflect later events or developments. 

Sun-Rype Products Ltd.
Statements of Operations and Comprehensive Income
(Unaudited)
(in thousands of dollars, except per share amounts)

		For the quarters ended				For the three quarters ended
		September 25, 2010		September 26, 2009		September 25, 2010		September 26, 2009
Net sales		$  34,835		$  36,145		$ 101,392		$ 112,595
	Cost of sales	27,177		28,428		76,745		82,977
	Gross profit	7,658		7,717		24,647		29,618
Expenses
	Selling, general, and administrative	6,174		6,635		20,487		19,930
	Amortization	93		129		295		402
	Interest	26		115		90		456
	Foreign exchange loss (gain)	(51)		328		(153)		161
		6,242		7,207		20,719		20,949
	Income before income taxes	1,416		510		3,928		8,669
	Income tax expense	402		149		1,113		2,810
Net income and comprehensive income		$  1,014		$  361		$  2,815		$  5,859
Earnings per share
	Basic and diluted	$  0.09		$  0.03		$   0.26		$  0.54

%SEDAR: 00001572E

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