Philadelphia-based Tasty Baking Company, one of the largest independent baking companies in the US, has announced that for its Q1 ended 30 March 2002, gross sales fell to US$64m, from US$65.7m year on year. Gross sales, less discounts and allowances, resulted in net sales of US$40.7m, compared with US$42.2m reported for the same period last year. Net income for the thirteen weeks was US$1,205,000 or US$0.15 per diluted share compared to US$2,119,000 or US$0.26 per diluted share, during the comparable period in 2001.