Milling & Baking News - August 28, 2007 - 11

Foundation wants consumers to
think bread when snacking
RIDGWAY, COLO. - After several months of planning and work
generating new creative materials,
the Grain Foods Foundation last
week launched a fall campaign
encouraging increased consumption of bread and other grainbased foods.
Kristin L. Patterson, an account
manager at Mullen, said the foundation will be placing considerable
focus in 2007-08 toward snacking
occasions. The foundation noted
93% of Americans snack every
day, and while a similar percentage believes breakfast is the most
important meal of the day, less
than half of Americans actually
eat breakfast daily.
"The reality is that consumers
are eating fewer meals and snacking instead," Ms. Patterson said.
"And snack time is when they are
most vulnerable to making unhealthy choices. The idea behind
the campaign is that bread is an
ideal snack because not only is
it healthy, tasty and convenient,
bread gives you the energy you
need to get through the day."
A Harris poll conducted in May
for the foundation also revealed
that hunger is the primary reason

69% of consumers snack. Other contributors to snacking include boredom (44%) and the need for a boost
of energy (32%).
Robin Miller of Food
Network's "Quick Fix
Meals" is partnering with
the Grain Foods Foundation to create a competition to find "the country's
best healthy snack recipe."
Participants will submit
their "smartest snack recipe" using bread or other
grains to win a personal
chef for two weeks, the
foundation said.
"There is a science to
smart snacking," Ms.
Miller said. "An ideal
snack can help keep energy levels stable throughout the day. Grain foods
such as bread, crackers,
pretzels and pitas are a
great foundation for a
healthy snack."
The snack competition
follows the successful
sandwich showdown last
year, Ms. Patterson said. It
will be promoted through
The contestant with the best grain-based snack recipe media outreach as well
will win a personal chef for two weeks, including grocery as point-of-purchase mashopping, meal/snack preparation and clean up. The pro- terials at The Kroger Co.
motion makes use of the twist tie, an element that will stores beginning the last
week of August. MBN
recur in the foundation's materials this year.

I.B.C. posts first profit in more than a year
KANSAS CITY - For only the third time
since filing for bankruptcy in September
2004 and the first time since April 2006,
Interstate Bakeries Corp. posted a profit in
the most recent four-week period. Net income in the four weeks ended June 30 was
$1,052,155, which compared with a loss of
$5,968,622 in the four weeks ended June 2,
according to an 8-K filed Aug. 15 with the
Securities and Exchange Commission.
Sales in the four weeks ended June 30 were
$237,073,331, up narrowly from $235,419,377
in the previous four-week period. I.B.C.
now has posted six consecutive months of
increasing sales, the longest streak since the
company filed for Chapter 11 bankruptcy
protection in September 2004.
Operating expenses finished at
$112,964,439, down 3% from $116,394,797
in the previous period. Ingredients, packaging and outside purchasing costs fell 3%
to $58,631,493 from $60,613,066, while direct and indirect labor costs climbed 10%,
rising to $41,282,066 from $37,685,891 in
the previous period.
bakingbusiness.com / world-grain.com

still had not borrowed under its $200 million debtor-in-possession credit facility.
The company said it has $114.1 million of
letters of credit outstanding. The amount
of the credit facility available for borrowing was $85.9 million as of June 30.
Despite the improved financial results,
shares of I.B.C. remained weak, sinking
last week to a new 52-week low of $1 per
share. MBN

I.B.C. recorded charges of $1,783,987 during the most recent period from restructuring and reorganization. Charges for professional fees of approximately $1,804,058,
KERP and restructuring bonus plans of
$73,256, adjustments to lease rejection expense of $2,528 and "other" charges of
$33,897 offset interest income of $129,752.
I.B.C. posted earnings before interest,
Interstate Bakeries Corp. income/loss and sales
taxes,
depreciation
in millions
income/loss
Sales
and amortization of
$10
$290
$11,844,534, up 29%
$5
$280
from $9,152,304 in the
$0
$270
prior period.
-$5
$260
In the S.E.C. filing,
-$10
$250
I.B.C. said capital ex-$15
$240
penditures for the four-$20
$230
week period ended June
-$25
$220
30 totaled approximate-$30
$210
ly $1.9 million, boost-$35
$200
ing year-to-date capital
Sept. Feb. May Sept. Jan. April Aug.
Feb. June
spending through June
2004 2005
2006
2007
30 to $32 million.
Four-week periods
As of June 30, I.B.C.
Milling & Baking News

August 28, 2007 / 11

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Milling & Baking News - August 28, 2007

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