USA: Midwest Grain reports significant first quarter earnings improvement
Ladd Seaberg, president and chief executive officer of Midwest Grain Products, Inc. (Nasdaq: MWGP) today announced that the company's earnings performance in the first quarter of fiscal 2002 represented "a significant positive turnaround" versus the same period the prior year. Results for the quarter, which ended Sept. 30, show net income of $2,444,000, or 30 cents per common share, on sales of $54,294,000. That compares to the net loss of $395,000, or 5 cents per common share, on sales of $58,297,000 that the company experienced in the first quarter of fiscal 2001.
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