Posted on Friday, January 6th, 2012 at 5:32 pm.
Imperial Sugar Co. saw a dramatic increase in net loss when compared with 2010.
The company reported a net loss of $32.5 million in the fourth quarter for the 2011 fiscal year. This is greatly larger than the 2010 fourth quarter net loss of $2.3 million. In relation to shares of stock, this large loss cost $2.73 per share.
According to Imperial Sugar Co., the reason for the decline in profits comes as a direct result of a membership interest by a refinery company. This deal was recorded in the equity process of accounting.
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