Tasty Baking Co., the US bakery firm, posted a first-quarter net loss yesterday (4 May), despite a 7.8% increase in sales.
The company reported a net loss of US$70,000 for the quarter compared to a net loss of $1m in the first quarter of 2008.
Net loss for both the first quarter of 2009 and 2008 included after tax accelerated depreciation of $0.8m.
Adjusted EBITDA for the period increased 70.9% to $3.6m from $2.1m in the same period of the previous year.
Paul Ridder, Tasty Baking’s senior vice president and CFO, said: While we saw declines in selected commodity prices during the first quarter of 2009, when taken as a whole, we experienced a moderate increase in packaging and ingredient costs, which offset some of the benefit associated with higher selling prices.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataNet sales, however, increased to $46.2m from the $42.8m reported for the first quarter last year. The increase was driven by “balanced growth” in both the route and non-route components of the business, in addition to the impact of the timing of the Easter holiday.
“We are pleased with our top-line performance this quarter and the positive impact from higher selling prices and changes in our promotional strategy, which not only helped fuel our sales growth, but also translated into a significant improvement in gross profit,” Ridder added.