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Archive for Wednesday, September 7, 2005

Interstate Bakeries turns monthly profit

September 7, 2005

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The sale of two company properties in California and Idaho helped Interstate Bakeries Corp. on Tuesday report its first monthly profit since filing for bankruptcy protection almost a year ago.

The Kansas City, Mo.-based maker of Wonder Bread and Hostess Twinkies said it made $283,864 for the four weeks ending July 23.

Revenues actually fell to $250.8 million, the lowest in four months, and the company said it paid $4.2 million in professional fees, retention bonuses and other costs tied to its ongoing restructuring.

But the company said those charges were offset by an $11.3 million gain made on the sale of two properties in San Pedro, Calif., and Boise, Idaho.

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