IBC: reports improved First Quarter Results

Kansas City / MO. (ibc) Interstate Bakeries Corporation (IBC) filed its Quarterly Report on Form 10-Q with the Securities and Exchange Commission, reporting unaudited financial results for its first fiscal quarter ended August 25. IBC reported net revenues of 689,8 million USD for the twelve weeks ended August 25, up from 684,2 million USD during the same period in the previous year. IBC incurred an operating loss of 0,3 million USD for the quarter, compared with an operating loss of 7,8 million USD in the same period a year ago. The company noted that operating results in the first quarter of the current fiscal year included a non-cash asset impairment charge of 10,2 million USD associated with its decision to close bread operations in the Southern California market. IBC reported a net loss of 16 million USD for the quarter, compared with a net loss of 26,3 million USD during the same quarter a year ago (press release).