[MGPI] I've been watching a Handle take shape recently.
mgpingredients.com
I just don't know how long it will take.
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Energy costs dent MGP's earnings
Thursday February 9, 11:07 am ET
Higher natural gas prices lowered MGP Ingredients Inc.'s second-quarter earnings, despite higher revenue compared with last year.
Before the market opened on Thursday, the Atchison-based company (NYSE: MGPI - News) reported earnings of $818,000, or 5 cents a share, for the quarter that ended Dec. 31. This is a 40 percent decrease from $1.35 million, or 8 cents a share, for the same quarter a year earlier.
Sales for the quarter were $75.7 million, up 24 percent from $61.2 million a year earlier.
MGP Ingredients, founded in 1941, produces a range of grain-based products at plants in Atchison; Kansas City, Kan.; Onaga, Kan.; and Pekin, Ill.
Published February 9, 2006 by the Kansas City Business Journal
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In the end, Ford and GM's more emphatic promotion of ethanol will probably be more beneficial to ethanol producers like Archer-Daniels-Midland (NYSE: ADM - News) and MGP Ingredients (Nasdaq: MGPI - News). The ramped-up marketing of "flex fuel" offerings will raise consumer awareness of E85, and the additional fueling stations will probably lead to some boost in demand, especially since there are 5 million vehicles on the road already capable of running on the fuel.
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