USA: Tasty Baking Company sees Q2 gross sales drop 14%
Philadelphia-based Tasty Baking Company (TBC), one of the largest independent baking companies in the US, has posted gross sales of US$65.6m for its Q2 ended 29 June 2002, down 14% compared with last year's US$66.5m. Q2 net sales fell 2.6% to US$42.1m, from US$43.2m year on year. Net income for the 13 weeks was $879,000, compared with $2.5 million for the same period last year, while net income per diluted share was US$0.11, compared with US$0.31 per diluted share during the comparable period in 2001.
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