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Penford Swings to Profit in Q2

By Eric Volkman - Apr 5, 2013 at 9:50PM

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The food ingredients supplier nets $1.1 million in the quarter.

Penford (NASDAQ: PENX) results for the company's fiscal Q2 2013 have been released. For the quarter, sales for the Colorado-based firm were $89 million, up from the $86 million in the same period the previous year. Bottom line veered into the black, coming in at $1.2 million ($0.10 per diluted share) from Q2 2012's net loss of roughly $340,000 ($0.03).

Penford also detailed results for the past six months of its operations. Consolidated sales on that basis grew 4% year over year to land at just under $184 million. Net profit, meanwhile, was $2.9 million, a more than tenfold increase over the $252 million of the same period a year ago.

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