AIPC net climbs in Q3, nine months
August 07, 2008
by Eric Schroeder
KANSAS CITY — American Italian Pasta Co. said net income in the third quarter ended June 27 totaled $978,000, equal to 5c per share on the common stock, up from a loss of $232 million in the same period a year ago. With the announcement, AIPC said it now is current on all Securities and Exchange Commission reporting requirements. Net sales in the quarter totaled $155,844,000, up 60% from $97,158,000. For the first nine months of fiscal 2008, net income was $11,816,000, or 62c per share, up 238% from $3,495,000, or 19c per share, in the same period a year ago. Net sales were $407,135,000, up from $288,056,000. The gain included a 38% improvement in revenues in the retail market and a 53% gain in the institutional market. "This is another important milestone for the company," said Jack Kelly, chief executive officer. "We are pleased that, in bringing our S.E.C. filings up to date, we are also able to report solid results for the first nine months of our fiscal year. We look forward to the future and continued execution of our business plans."