Exhibit 99.1

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


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
 
·  
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.
 
·  
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
 

 
 

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.

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