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Exhibit
99.1
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AMERICAN
ITALIAN PASTA COMPANY
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NEWS
RELEASE
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Contact:
Paul
R. Geist
EVP
& Chief Financial Officer
816-584-5228
pgeist@aipc.com
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For
Immediate Release
AMERICAN
ITALIAN PASTA COMPANY REPORTS FISCAL YEAR 2009 RESULTS
TOTAL REVENUE OF $628
MILLION – UP 10%; TOTAL
VOLUME INCREASED
6%;
OPERATING
INCOME OF $113 MILLION – UP 163%
KANSAS
CITY, MO., November 24, 2009 -- American Italian Pasta Company (NASDAQ:AIPC),
the largest producer of dry pasta in North America, today announced 2009 net
income of $88.3 million or $4.10 per diluted share compared with 2008 net income
of $19.1 million or $0.99 per diluted share. The company reported
fourth quarter 2009 net income of $15.8 million or $0.73 per diluted share
compared with fourth quarter 2008 net income of $7.3 million or $0.36 per
diluted share.
The
fourth quarters of fiscal year 2009 and fiscal year 2008 contained 13 weeks of
operations. Fiscal year 2009 contained 53 weeks of operations
compared to 52 weeks of operations for fiscal year 2008. The Company
reports on a 52/53-week basis with the extra week occurring approximately every
six years. Fiscal year 2009 was a 53-week year that ended on October
2, 2009. Fiscal year 2008 was a 52-week year that ended on September
26, 2008. Therefore, all year-over-year comparisons reflect a 53-week
period for fiscal 2009 and a 52-week period for fiscal 2008.
“We’re
very proud both of our financial results for the year and the continued
dedication and hard work of our employees that created these strong financial
results,” said Jack Kelly, President and CEO. “Our ability to grow our
market share while simultaneously making significant improvements in our key
indicators of financial strength, such as gross profit margin, net income,
operating cash flow, net debt, and EBITDA, is a reflection that our strategic
decision to pursue long term profitable growth by focusing on customer brands
and on our strongest proprietary brands was the right decision.”
FISCAL 2009 FINANCIAL
RESULTS
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·
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Total
Revenues for the 53-week year increased $59.0 million, or 10%, to $628.2
million, led by a 17% increase in revenue growth in the retail market,
offset by an 8% decrease in the institutional market. Overall
volume increased approximately 6%. Revenues for the fourth
quarter decreased $13.0 million, or 8%, to $149.1 million, including a
3.2% decrease in the retail market and a 22.9% decrease in the
institutional market.
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·
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Retail
Revenues: Retail revenues increased $70.1 million, or 17%, to $495.6
million for 53-week fiscal year 2009, from $425.5 million for 52-week
fiscal year 2008. The revenue increase is primarily the result
of a $38.2 million, or 9%, increase related to
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The following information was filed by American Italian Pasta Co on Tuesday, November 24, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one year to another to evaluate American Italian Pasta Co's financial trajectory
Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by American Italian Pasta Co.
849667 Annual Reports
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10-K Annual Report November 2009
- 10-K Annual Report December 2008
- 10-K Annual Report June 2008
- 10-K Annual Report June 2008
- 10-K Annual Report June 2008
- 10-K Annual Report December 2004
Material Contracts, Statements, Certifications & more
American Italian Pasta Co provided additional information to their SEC Filing as exhibits
SEC Filing Exhibit
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CIK: 849667
Form Type: 10-K Annual Report
Accession Number: 0001047469-09-010390
Submitted to the SEC: Mon Nov 23 2009 6:13:55 PM EST
Accepted by the SEC: Tue Nov 24 2009
Period: Friday, October 2, 2009
Industry: Miscellaneous Food Preparations And Kindred Products
External Resources:
Insider Transactions
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