Tasty Baking: loses 4,6 million USD in Q4/2008

Philadelphia / PA. (tb) Tasty Baking Company reported net sales of 43,7 million USD for its fourth quarter ended December 27, 2008; an increase of 11,4 percent from the 39,3 million USD reported for the fourth quarter last year. The company reported a net loss of 4,6 million USD in the fourth quarter of 2008 compared to net income of 0,1 million USD in the fourth quarter of 2007. The results from the fourth quarter 2008 included 7,8 million USD in additional after-tax pension expense in connection with the company´s method of immediately recognizing gains and losses that fall outside its pension corridor. In addition, the company recorded 4,8 million USD in after-tax income in the fourth quarter of 2008 related to changes in the company´s retiree medical benefit plan.
Info: Tasty Baking reports fourth quarter 2008 results – Company reports net sales growth of 11,4 percent versus the prior year (PDF / 07 pages / 58 KB)

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