Interstate Bakeries reports $7.76 million operating loss for quarter ended Aug. 26

By Caroline Salls

Pittsburgh, Dec. 21 - Interstate Bakeries Corp. reported a $7.76 million operating loss for the quarter ended Aug. 26 on $684.25 million in net sales, according to a 10-Q filing with the Securities and Exchange Commission.

For the year-ago quarter ended Aug. 20, 2005, the company posted $9.51 million in operating income on net sales of $744.65 million.

The operating income for the 2006 period included $529,000 in restructuring charges, compared with $4.72 million in restructuring credits the previous year.

The net loss for the quarter ended Aug. 26, 2006 was $26.33 million, up from a $6.99 million net loss the year before.

The increase in net loss included an $842,000 provision for income taxes this year, down from a $5.02 million provision for income taxes in the same quarter of 2005.

Cash on Aug. 26 was $115.2 million, compared with $78.18 million on June 3.

Interstate, a Kansas City, Mo., bakery operator, filed for bankruptcy on Sept. 22, 2004 in the U.S. Bankruptcy Court for the Western District of Missouri. Its Chapter 11 case number is 04-45814.

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