USA: Tasty Baking sees Q3 net loss

US cake maker Tasty Baking has said it expects to post a third-quarter net loss due to spending on marketing and expansion. The Philadelphia-based company, which makes Tastykake cakes, pies and cookies, forecast a net loss of between 17 cents and 21 cents per fully diluted share, compared to analysts’ consensus estimate of a profit of 4 cents a share, reported Reuters.

October 6, 2003

US cake maker Tasty Baking has said it expects to post a third-quarter net loss due to spending on marketing and expansion.

The Philadelphia-based company, which makes Tastykake cakes, pies and cookies, forecast a net loss of between 17 cents and 21 cents per fully diluted share, compared to analysts’ consensus estimate of a profit of 4 cents a share, reported Reuters.

Tasty Baking said its forecast loss reflects incremental investment spending of around US$2.0m, or 18 cents a share, above the year-ago period.