USA: Tasty Baking Company reports record first quarter sales
Results Include Compensation Charge Relating to 1999 Stock Bonus Plan Tasty Baking Company (NYSE:TBC) today announced financial results for the first quarter ended March 31, 2001. For the first quarter, gross sales were a record $65,655,000, compared with $61,148,000 in the first quarter last year, an increase of 7.4%. Gross sales, less discounts and allowances, resulted in net sales of $42,394,000, compared with $40,343,000 reported for the same period last year, an increase of 5.1%. Net income for the thirteen weeks was $2,119,000 or $0.26 per diluted share compared to $2,023,000 or $0.26 per diluted share, during the comparable period in 2000. The number of diluted shares outstanding for the current quarter was 8,022,865 compared with 7,823,210 for the first quarter of last year.
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