AMERICAN ITALIAN PASTA COMPANY
NEWS
RELEASE
Contact:
Paul R. Geist
EVP & Chief Financial Officer
    816-584-5228

For Immediate Release
 


 
AMERICAN ITALIAN PASTA COMPANY REPORTS SECOND QUARTER AND YEAR-TO-DATE 2009 RESULTS
 
YEAR-TO-DATE TOTAL REVENUE OF $334 MILLION; OPERATING INCOME OF $61 MILLION
 
YEAR-TO-DATE EPS OF $2.44 PER DILUTED SHARE
 
KANSAS CITY, MO., May 12, 2009 -- American Italian Pasta Company (NASDAQ:AIPC), the largest producer of dry pasta in North America, today announced results for its second quarter and year-to-date fiscal year 2009, which ended April 3, 2009.
 
The second quarter of fiscal year 2009 and fiscal year 2008 contained 13 weeks of operation.  The year-to date fiscal year 2009 contains 27 weeks of operations compared to 26 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 will be a 53-week fiscal year and ends on October 2, 2009.  Fiscal year 2008 was a 52-week year that ended on September 26, 2008.  Thus, all year-over-year comparisons reflect a 27-week fiscal year 2009 and a 26-week fiscal year 2008.
 
 
FINANCIAL HIGHLIGHTS
 
Revenues for the second quarter increased $22.7 million, or 16%, to $162.3 million, led by a 21% increase in the retail market and a 3% increase in the institutional market.  Overall volume increased 10%.  Net income for the quarter increased $16.8 million to $26.2 million, or $1.21 per diluted share, versus a net income of $9.4 million, or $0.50 per diluted share, in the second quarter of fiscal 2008.
 
Revenues for the 27-week year-to-date period increased $82.2 million, or 33%, to $333.5 million, led by a 37% increase in the retail market and a 20% increase in the institutional market.  Overall volume increased 12%.  Net income for the 27-week year-to-date period increased $41.4 million to $52.2 million, or $2.44 per diluted share, versus a net income of $10.8 million, or $0.57 per diluted share, in the 26-week year-to-date period of fiscal 2008.
 
"Clearly, our strategy and great execution by the entire AIPC employee team are paying off," said Jack Kelly, CEO of AIPC.  "Volume was a key factor in our overall revenue growth, handily outpacing the industry's overall growth rate.  Moving forward, we are well positioned to capitalize on what we believe will be a lasting upward trajectory in consumption, given pasta's value, versatility and nutritional benefits." 
 

 
 

The following information was filed by American Italian Pasta Co on Tuesday, May 12, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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