Imperial Sugar Records Fiscal 2005 Loss

NEW YORK - Dec 14/05 - SNS -- Imperial Sugar Company reported a net loss of U.S. $20.282 million on sales of $226.551 million during the fourth quarter ending September 30, compared to a profit of $5.491 million during the same three-month period last year.

This offset modest profits reported earlier in the fiscal year, with the result the company reported a loss of $19.308 million on sales of $803.774 million for the 2005 fiscal year, compared to a profit of $14.964 million on sales of $785.895 million the fiscal 2004.

In releasing its fourth quarter results, Imperial Sugar said discontinued operations include the loss on sale of its Holly Sugar subsidiary which, as previously reported, was sold in September 2005 for cash proceeds of $51.1 million, plus certain escrow amounts withheld totaling $3.8 million.

Robert A. Peiser, Imperial's president and chief executive officer, said, "It would appear that industry conditions in 2006 might well be more favorable. On the negative side, operations throughout the Southeast have been severely impacted during the post-hurricane period, leading to increases in the cost of transportation and supplies, at the same time that energy costs used in our manufacturing process have actually accelerated their upward trajectory."

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