USA: Flowers Foods reports record sales and results for third quarter
Flowers Foods (NYSE: FLO) yesterday reported sales for its 12-week quarter ended October 6, 2001 were $385.6 million, a 4.5% increase over the $369.1 million recorded in the same quarter a year ago. Earnings from continuing operations were $8.5 million, or $.42 per share, compared to a loss of $7.4 million, or $.37 per share, for the third quarter last year. EBITDA for the quarter was $33.0 million, or 8.6% of sales, compared to $17.4 million, or 4.7% of sales, for the comparable quarter last year. EBITDA per share was $1.64, compared to $.87 for the same quarter last year. (EBITDA as presented represents continuing operations before non- recurring items. The company had no non-recurring items in this year's third quarter but did have such charges in the third quarter of 2000.)
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