Imperial Sugar delays release of financials
by Eric Schroeder
SUGAR LAND, TEXAS — Imperial Sugar Co. said it has not filed its annual report on Form 10-K for the year ended Sept. 30, 2011, and will not hold its conference call with investors scheduled for Dec. 15.
The company said it has not received audited financial statements from Louisiana Sugar Refining, L.L.C., a significant equity method investee, and also has not finalized the accounting adjustments required to be recorded for the year ended Sept. 30 concerning equity investment carrying values, asset impairment values and derivative gain recognition.
“As a result of these items, additional time is required for the company to complete its financial statements and for the company’s auditors to complete their audit of the company’s financial statements for the year ended Sept. 30, 2011,” Imperial Sugar said.
The company said it expects to file the Form 10-K by Dec. 29, 2011, and to reschedule its conference call with investors once the filing has been made.