B&G Foods has reported a net loss of $1.4m for the second quarter of 2013, compared with a profit of $16.03m for the same period in the previous year due to charges related to debt refinancing and acquisition-related transaction costs.
For the quarter ended 30 June 2013, net sales increased 8.3% to $160.9m, compared with $148.6m for the same period in 2012.
Gross profit increased 7.6% to $55.7m compared with $51.8m in the second quarter of 2012. Adjusted EBITDA, which excludes the impact of acquisition-related transaction costs, increased 7% to $42.4m compared with $39.6m in 2012.
B&G Foods president and chief executive officer David L. Wenner said: "We continue to grow the brands most important to us; Tier I brands were up for both the quarter and the first half."
The company increased its adjusted EBITDA guidance to a range of approximately $187m to $191m for the full-year 2013, primarily due to the expected impact of the Pirate Brands acquisition.
