USA: Tasty Baking Company reports third quarter results
Tasty Baking Company (NYSE:TBC) today announced financial results for the third quarter and thirty-nine weeks ended September 29, 2001. For the third quarter, gross sales were $62.5 million, compared with $60.6 million last year, an increase of 3.2%. Gross sales, less discounts and allowances, resulted in net sales of $40.3 million, compared with $39.9 million reported last year, an increase of 1.2%. Net income for the third quarter decreased 25% to $1.1 million, compared with $1.4 million reported last year. Net income per diluted share decreased to $0.13 compared with $0.18 per diluted share reported during the prior year's third quarter. These results were in line with the anticipated results that the Company announced on October 19, 2001.
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