Imperial Sugar Net Income Rises

NEW YORK - Jan 30/07 - SNS -- Imperial Sugar Company reported a net income of U.S. $15.7 million on sales of $127 million for the first quarter ending December 31, compared to a net of $almost $12 million on sales of $254 million during the same three month period of the last fiscal year.

Imperial Sugar said the "favorable earnings results were in part driven by a carryover of higher prices derived from last year's tight domestic supply caused by a smaller domestic sugarbeet crop and delays in the start of the harvest in some sugar beet areas, along with the impact of gulf coast hurricanes on the cane sugar industry.

"Lower volume levels were caused by restoration of capacity in the industry as certain competitors' operations were severely affected by the hurricanes in Louisiana and Florida. In addition, a historically high beet crop has increased pressure on the company's sales efforts, particularly in the industrial and foodservice channels."

Prices for the quarter were higher than last year's first quarter across all of the channels which the Company serves.

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