USA: Tasty Baking reports dismal Q4 and marginal increase in FY results
Philadelphia-based Tasty Baking Company yesterday [Wednesday] announced its Q4 and FY financial results ended 29 December 2001. For the Q4, gross sales decreased 6.8% to US$60.6m, compared with US$65.1m year on year. Gross sales, less discounts and allowances, resulted in net sales of US$38.8m, compared with US$42.4m reported the same period last year, a decrease of 8.3%. For the thirteen weeks, net income was US$652,000, compared with US$2,506,000 in 2000, while net income per diluted share was US$0.08, compared with US$0.32 in 2000.
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