The Financial Post reports in its Saturday edition Sun-Rype Products has posted net income in the first quarter totalling $500,000 or a nickel per share, compared with net income of $1.4-million or 13 cents per share in the same period of 2012. A Canadian Press dispatch to the Post says the Kelowna, B.C., based company says its net sales were also down in the quarter to $36.6-million compared with $39-million in corresponding period of 2012. Sun-Rype blames lower net sales, production overhead costs, distribution costs, raw material costs and increased production efficiencies for the declines. Despite reporting net income in 2012 and the first quarter of 2013 after incurring a net loss in 2011, the company says it continues to face challenges in the juice category, which comprises 60 per cent of its business. Strong competitive pressures continue but the company says it is trying to mitigate this by launching innovative products and broadening geographic distribution of its products. Sun-Rype shares closed Friday at $6.06, down 19 cents on the Toronto Stock Exchange.