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Non-Tech : Imperial Sugar (IPSU) -- Ignore unavailable to you. Want to Upgrade?

To: Crossy who wrote (113)	2/16/2003 12:40:43 AM
From: Crossy	Read Replies (1) \| Respond to of 121

Back then I predicted pretax-EPS of $0.40 would be possible going forward and some break even at 7.5% of Gross Margin: Message 18389815 well the pretax EPS of $0.40 was achieved this quarter (on a going forward base AFTER refinancing and after stripping out non-recurring charges). The real trick is that IPSU seems to have changed the cost structure to the extent that it's now becoming profitable with just 5.8% of Gross margin. And this was before their least efficient plant (Texas) was closed. I guess the new break even point could be even below gross margin of 5%. Gross Margin also improved to 8.3% (if you take out the A/R financing discounts which won't materialize any longer and add it back to gross margin) best wishes CROSSY