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.

The company, which produces and markets bakery products in the U.S., said net sales dropped by 2.3% to $877.4 million for the most recent quarter, from $898.2 million for the 2013 second quarter.

Analysts polled by Thomson Reuters expected the company to post earnings of 24 cents per share on revenue of $940.83 million for the 2014 second quarter.

Separately, TheStreet Ratings team rates FLOWERS FOODS INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate FLOWERS FOODS INC (FLO) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, good cash flow from operations, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."

You can view the full analysis from the report here: FLO Ratings Report

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