AIPC revenues rise 3% in first half of '07
May 10, 2007
by Eric Schroeder
KANSAS CITY — American Italian Pasta Co. provided an update on certain financials for the first half of fiscal 2007. Net revenues in the six-month period ended March 30 totaled $190.5 million, up 3% from $185.2 million in the first half of fiscal 2006.
Overall volume decreased 0.8% in the first half, compared with the first half of fiscal 2006.
Excluding liquidation sales of $200,000 and $1.2 million in the first half of fiscal years 2007 and 2006, respectively, revenue increased 3.4% and volume increased 0.8% in the first half of fiscal 2007.
For the second quarter of fiscal 2007, AIPC had total liquidity resources of $42 million, consisting of cash on hand of $14.3 million and $27.7 million available under the company’s $30 million revolving credit facility.