USA: Tasty Baking Company reports record fourth quarter and year end results -- year-over-year earnings growth of 49%
Tasty Baking Company (NYSE:TBC), today announced record financial results for the fourth quarter and fifty-three weeks ended December 30, 2000. For the fourth quarter, gross sales increased 10.9% to $65.1 million, compared with $58.7 million for the same period last year. Gross sales, less discounts and allowances, resulted in net sales of $42.4 million, compared with $38.7 million reported the same period last year, an increase of 9.6%. For the fourteen weeks, net income increased 10.6% to $2.5 million, while net income per diluted share increased 10.3% to $0.32 per diluted share compared with $0.29 per diluted share during the comparable period in 1999.
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