Imperial Sugar Posts Loss in Q2

The Imperial Sugar Company has reported a net loss of $15.5 million for the second quarter ended March 31, 2008, compared to net income of $8.7 million in the same period of 2007.

Net loss per share was $1.33, compared to net income per share of $0.74 in the corresponding period of 2007. Net sales were $145.2 million, compared to $212.6 million for the same period in 2007.

For the first six months ended March 31, 2008, the company reported a net loss of $3.3 million, or $0.28 per share, compared with net income of $24.4 million, or $2.11 per share, for the same period in 2007. Net sales declined to $360.7 million, compared to $439.6 million in 2007.

John Sheptor, president and CEO of Imperial, said: “Results for the second quarter were dramatically impacted by the costs and reduced volumes resulting from the refinery explosion and fire.”