date:May 12, 2012
Net profit soared 168% in the quarter, to $1.9m from $700,000 in the prior year period, while net sales increased to $86.3m from $64.1m. Net income for the period also included a $4m gain related to the sale of the companys 20% share in its Illinois Corn Processing joint venture.
MGPIs president and CEO Tim Newkirk said that while the company was pleased with its progress in moving toward a higher value sales mix, it was not satisfied with its ability to generate consistently higher profit marg