Trade Resources Company News B&G Foods's Net Sales for The First Quarter of 2013 Has Increased 8.8% to $171.2m

B&G Foods's Net Sales for The First Quarter of 2013 Has Increased 8.8% to $171.2m

B&G Foods, US-based manufacturer of shelf-stable Mexican food, has reported that its net sales for the first quarter of 2013 has increased 8.8% to $171.2m.

The net sales of the New York Style and Old London brands, which B&G Foods acquired at the end of October 2012, contributed $11.3m to the overall rise in the sales.

B&G Foods president and chief executive officer David L. Wenner said that the company has witnessed 8.8% growth through a combination of base business volume gains and acquisition growth.

"The New York Style and Old London acquisition completed in October 2012 performed to expectations in both sales and earnings.

"Growth in the base business came from our top two tiers of brands, which together contributed a 3.0% net sales gain for the quarter," added Wenner.

The net income of the company increased 17% to $19.6m, while the diluted earnings per share increased 5.7% to $0.37.

B&G Foods offers shelf-stable Mexican food, including taco shells, tortillas, seasonings, dinner kits, taco sauces, peppers, refried beans, salsas, and related food products; maple syrups, gourmet salad dressings, sugar free syrups, marinades, fruit syrups, confections, pancake mixes, and organic products; hot cereals; fruit-based spreads and jarred wet spices; and enchilada sauce, chili sauce, and various pepper products. 

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B&G Foods Q1 2013 Revenues up 8.8%