MGP Ingredients Reports Earnings, Losses

ATCHISON, Kan.—MGP Ingredients, Inc. reported August 27 a net loss of $9,989,000, or $0.60 in diluted earnings per share, for the fourth quarter of fiscal 2008, which ended June 30. The loss for the quarter included $1.0 million net of tax, or $0.06 per share, related to the write-off of fixed assets. This compares with net income of $1,668,000, or $0.10 in diluted earnings per share, for the fourth quarter of fiscal 2007. Total sales in the fourth quarter of fiscal 2008 were $104,227,000, an increase of 3 percent above fourth quarter sales a year ago of $101,547,000. For all of fiscal 2008, the company reported a loss of $0.70 per diluted share compared with income of $1.04 per diluted share for the prior fiscal year.

MGP INGREDIENTS, INC. ANNOUNCES FY 2008 FOURTH QUARTER AND YEAR-END RESULTS

Source: MGP Ingredients