Former Hostess marks negative $6.29 million of EBITDA for July period

By Caroline Salls

Pittsburgh, Aug. 30 - Old HB, Inc., formerly Hostess Brands, Inc., posted negative $6.29 million of EBITDA for the period of June 30 through July 27 on zero net revenue, according to its monthly operating report filed Aug. 30 with the U.S. Bankruptcy Court for the Southern District of New York.

Those figures compare to negative $2.9 million of EBITDA reported for the period of June 2 through June 29, also on zero net revenue.

Old HB also reported $154.51 million of operating income for the July period, improving significantly from a $5.6 million operating loss for the previous reporting period.

Net income for July was $112.2 million. The company posted a $5.7 million net loss for the June period.

The operating income and net income included a $163 million gain related to asset sales.

Cash was $50.3 million as of July 27, up from $44.88 million at June 29.

Hostess Brands, an Irving, Texas-based operator of regional bakeries, filed for bankruptcy on Jan. 11, 2012. Its Chapter 11 case number is 12-22052.

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