Penford Corp. announced unaudited consolidated earnings results for the fourth quarter and full year ended August 31, 2009. For the quarter, the company reported consolidated sales were $70.8 million compared with $31.6 million a year ago. Net income from continuing operations was $1.3 million, or $0.12 per diluted share, compared to net loss of $20.4 million, or $1.83 per diluted share last year. Fiscal 2008 fourth quarter results reflect the impact on the company's largest manufacturing facility from the catastrophic flood in Cedar Rapids last year. The company reported net loss of $34.83 million or $3.12 diluted loss per share compared to net loss of $20.9 million or $1.87 diluted loss per share for the same period last year. The company reported income from operations of $3.18 million and income before income taxes of $1.92 million compared to loss from operations of $32.36 million and loss before income taxes of $30.9 million for the same period last year. For the full year, the company reported loss from continuing operations of $6.64 million or $0.59 diluted loss per share compared to loss from continuing operations of $10.8 million or $1.02 diluted per share for the same period last year. For the period, the company reported net loss of $64.8 million or $5.80 diluted loss per share on the sales of $255.6 million compared to net loss of $12.7 million or $1.20 diluted loss per share on the sales of $239.6 million for the same period last year. The company reported loss from operations of $6.45 million and loss before income taxes of $10.1 million compared to loss from operations of $15.8 million and loss before income taxes of $16.1 million for the same period last year.

Penford Corporation reported net income from continuing operations of $1.3 million for the quarter ended August 31, 2009. The Company expects continued demand uncertainty for key paper and fuel end-market categories as well as increased competitive activity for selected products during the remainder of fiscal 2010. Cost reduction programs and the expected divestiture of the Australian/New Zealand segment have positioned the Company to better withstand fluctuating economic conditions and develop volume growth. The Company continues to work with its retained advisors evaluating a range of strategic alternatives and opportunities to enhance shareholder value.

Penford Corp. expected to Report Q1 2010 Results on January 4, 2010. This event was calculated by Capital IQ (Created on November 13, 2009).