116 3rd St SE
Cedar Rapids, Iowa 52401
Penford Corp. reports narrower loss in 2nd quarter
Dave DeWitte
Apr. 9, 2012 1:40 pm
Penford Corp. on Monday reported its losses narrowed sharply in the quarter ended Feb. 29 to $340,000, as consolidated sales grew 16 percent.
The provider of industrial ingredients, specialty starches and ethanol reported consolidated sales of $86.2 million for the quarter, up 16 percent from $74.3 million in the year-earlier quarter.
The loss was equivalent to 3 cents per diluted share, and compared to a loss of $1.6 million, or 13 cents per diluted share, a year earlier.
The sales gain included the Carolina Starches business acquired in January. Penford is the parent company of Penford Products in Cedar Rapids.
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