Archive for Wednesday, September 7, 2005

Interstate Bakeries turns monthly profit

September 7, 2005


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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