US: American Italian Pasta posts revenue gain

By: just-food.com | 7 August 2008

US-based pasta maker American Italian Pasta (AIPC) posted an increase in revenues of 41.3% for the first nine months of it fiscal year.

To the period ended 27 June, revenue rose to US$407.1m from $288.06m in the corresponding period last year.

Net income for the first nine months of fiscal 2008 increased $8.3m to $11.8m, or $0.62 per diluted share, versus a net income of $3.5m, or $0.18 per diluted share for the same period in 2007.

Retail revenues increased 37.7% to $302.8m from $219.9m in the year-ago period.

AIPC also announced that it has filed its Form 10-Q quarterly reports with the US Securities and Exchange Commission for the quarters ended December 2007, March 2008, and June 2008.

"This is another important milestone for the company," said Jack Kelly, CEO of AIPC. "We are pleased that, in bringing our SEC 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."

Sectors: Bakery, Snacks

Companies: American Italian Pasta