MGP Ingredients Inc. reported unaudited consolidated earnings results for the first quarter ended September 30, 2009. For the quarter, the company reported net income of $3,738,000, or $0.22 in diluted earnings per share compared with a net loss of $17,243,000, or $1.04 in diluted loss per share, for the first quarter of fiscal 2009. The increase in earnings was primarily the result of an improved sales mix of value-added products, reductions in grain and energy costs, and lower payroll costs as a result of restructuring completed in fiscal year 2009. Total sales were $47,084,000, a 52.5% decrease from sales of $99,020,000 for the same period a year ago. The sales decline was principally due to the company's significant reductions in sales of fuel grade alcohol and commodity ingredients. Income from operations was $4.6 million against loss from operations of $22.8 million a year ago. Income before income taxes was $3.8 million against $23.5 million a year ago. Comprehensive income was $3.7 million against comprehensive loss of $18.7 million a year ago. Capital expenditures was $35,000 against $1.7 million a year ago. EBITDA was $6.9 million against LBITDA of $19.4 million a year ago. Cash flow from operations was $3.3 million against cash used in operations of $25.6 million a year ago.

MGP Ingredients Inc. expected to Report Q2 2010 Results on February 8, 2010. This event was calculated by Capital IQ (Created on November 5, 2009).

MGP Ingredients Inc. has announced the appointment of Don Tracy to the position of vice president of finance and chief financial officer effective Nov. 6. For the past nearly three years, he served as chief financial officer at Emery Oleochemicals. In joining MGPI, Tracy succeeds Robert Zonneveld, who left the company to pursue other opportunities last April. Since that time, the role has been filled on an interim basis by David Harbert, a partner of Tatum, LLC. Harbert will continue to assist at MGPI over the next two weeks as Tracy transitions to his new role at the company.