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Tasty Baking Q3 net loss declines

Posted on: Wed, 04 Nov 2009 09:32:00 EST

Symbols: TSTY

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Nov 04, 2009 (Datamonitor via COMTEX) --
TSTY | Quote | Chart | News | PowerRating -- Tasty Baking Company has reported a net loss of $531,000, or $0.07 per diluted share, for the third quarter ended September 26, 2009, compared to a net loss of $1.35 million, or $0.17 per diluted share, for the third quarter ended September 27, 2008.

For the third quarter of 2009, net sales were $43.58 million, up 1.8%, compared with $42.8 million, for the same quarter of 2008.

Net income for the first nine months ended September 26, 2009 was $1.74 million, or $0.21 per diluted share, compared to a net loss of $2.24 million, or $0.28 per diluted share share, for the same period of 2008.

For the first nine months of 2009, net sales were $136.7 million, compared to $130.22 million for the first nine months of 2008.

Charles Pizzi, president and CEO of Tasty Baking Company, said: "During the third quarter of 2009 we continued to grow sales volumes, expanded our market share in our Route market, and improved gross margin compared to the prior year period.

"We were also pleased to see further improvement in key ingredients and packaging costs in the third quarter of 2009 versus the third quarter of last year."

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