Textile maker Penford net sales gains 4% for Q3 2006
10 Jul '06
1 min read
Penford Corporation, a global leader in ingredient systems for food and industrial applications, reported that third quarter consolidated sales rose to $79.1 million, up 4 percent over the same period last year. Volumes increased by 7 percent in the Industrial Ingredients and Australian business segments.
Consolidated gross margin as a percent of sales expanded to 15.2 percent from 13.2 percent last year despite continued high energy, chemical and distribution costs. Operating expenses as a percent of sales remained constant at 8.9 percent. Third quarter operating income increased 91 percent to $3.5 million from $1.8 million a year ago as all business units improved manufacturing yields and grain costs declined in Australia.
Penford Corporation develops, manufactures and markets specialty natural-based ingredient systems for various applications, including papermaking, textiles and food products. Penford has nine locations in the United States, Australia and New Zealand.
marketing@alchempro.com
