NEW YORK (TheStreet) -- Shares of Flowers Foods Inc. (FLO) are down by -6.25% to $18.76 at the start of trading on Tuesday, after the company reported a decline in net income to $42.1 million, or 20 cents per share for the 2014 second quarter, compared to $46.2 million, or 22 cents for the year ago second quarter.
Flowers Foods adjusted net income fell to $45 million, or 21 cents per share, versus $50.1 million or 24 cents per share.
“Earnings for the quarter were lower than expected and slightly below last year's second quarter earnings, excluding the carrying costs and interest expense related to the Hostess acquisition and the impairment charge,” said company CEO Allen Shiver.
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