Imperial Sugar Company Announces Update Regarding Annual Report And Form 10-K
Imperial Sugar Company (NASDAQ:
announced today that they have not filed their Annual Report on Form
10-K for the year ended September 30, 2011, and will not hold their
conference call with investors scheduled...
Imperial Sugar Company (NASDAQ: IPSU), announced today that they have not filed their Annual Report on Form 10-K for the year ended September 30, 2011, and will not hold their conference call with investors scheduled for 11:00 a.m. Eastern Thursday, December 15, 2011. The Company has not received audited financial statements from Louisiana Sugar Refining, LLC, a significant equity method investee. Additionally, the Company has not finalized the accounting adjustments required to be recorded for the year ended September 30, 2011, concerning equity investment carrying values, asset impairment values and derivative gain recognition. As a result of these items, additional time is required for the Company to complete its financial statements and for the Company’s auditors to complete their audit of the Company’s financial statements for the year ended September 30, 2011. The Company filed a Form 12b-25 with the Securities and Exchange Commission this morning which provides more details concerning these matters. The Company expects to file the Form 10-K by December 29, 2011, and to reschedule their conference call with investors once the filing has been made. About Imperial Sugar Imperial Sugar Company is one of the largest processors and marketers of refined sugar in the United States to food manufacturers, retail grocers and foodservice distributors. The Company markets products nationally under the Imperial®, Dixie Crystals® and Holly® brands. For more information about Imperial Sugar, visit www.imperialsugar.com and www.iscnewsroom.com.
Shares of Imperial Sugar Company (Nasdaq:IPSU) were gapping down Thursday morning with an open price 14.9% lower than Wednesday's closing price. The stock closed at $4.35 yesterday and opened today's trading at $3.70.
Imperial Sugar Company (Nasdaq:IPSU) hit a new 52-week low Thursday as it is currently trading at $6.48, below its previous 52-week low of $6.50 with 168,141 shares traded as of 12:35 p.m. ET. Average volume has been 439,500 shares over the past 30 days.