Wednesday March 10, 2010

Tasty Baking Posts Q4 Results

Philadelphia — Registering a 0.3 percent increase, Tasty Baking Co.’s fourth quarter sales reached $43.9 million for the period ended December 26, 2009. The company says its modest results are based on costs it incurred from transitioning to a new manufacturing facility at the Philadelphia Navy Yard.

Net sales, however, were said to be positive because of increased sales volumes, especially for Tasty Baking’s Family Pack products, as well as higher selling prices.

Gross profit declined 11.5 percent to $0.9 million compared with the fourth quarter of 2008.

Charles Pizzi, president and CEO states: “With regards to the new bakery project, we continue to be on budget and ahead of our original schedule. We currently have four of seven production lines up and running at the new bakery and have relocated our distribution center to the Philadelphia Navy Yard facility. We still anticipate completing the transition of production in the Spring of 2010.”