Now I will turn the call to Steve Kinsey for more information on the financial details. Steve?
Thank you, George, and good morning everyone. Just a quick reminder that the results of Tasty Baking are reported in the direct store delivery, our DSD segment of the business.
As George said, we did meet consensus expectations from an earnings perspective in the quarter. Earnings for the quarter were also roughly in line with our internal forecasts. Input costs in the quarter, excluding the effect of the Tasty acquisition, were up approximately 12% with all major categories of cost, with the exception of natural gas being up quarter-over-quarter. The category continues to be very competitive, as Allen will discuss in a moment, and in the quarter we did absorb approximately $700,000 of unplanned interest expense related to the issuance of the 400 million 10-year senior notes, which I will discuss more fully in a moment.
Our integration of Tasty is going well and results are tracking within the ranges that we announced at the time of the acquisition. For the quarter, the Tasty EBITDA contribution was in line and they contributed approximately $0.01 to the quarter earnings. Full-year earnings are tracking on target with our full-year expectation of earnings per share of $0.04 to $0.06 that we provided earlier, and we are scheduled to have Tasty fully integrated into our ERP systems by the end of the second quarter.Read the rest of this transcript for free on seekingalpha.com
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV