USA: Interstate Bakeries Corporation announces financial results
Interstate Bakeries Corporation (NYSE:IBC), the nation's largest wholesale baker and distributor of fresh branded bread and cake, yesterday reported financial results for its twelve-week first quarter ended August 26, 2000. Net sales increased 1.3 percent for the quarter, driven by improved pricing. Operating income for the quarter was $50,106,000, or 6.1 percent of net sales. Earnings per share on a diluted basis were $0.41 compared to the prior year's $0.47. For the twelve weeks ended August 26, 2000, IBC reported:
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