Hostess Offers Gloomy Forecast

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LENEXA, Kan. (AP) — Hostess Brands Inc. on Wednesday reported second-quarter net income of $30.5 million.

On a per-share basis, the Lenexa, Kansas-based company said it had net income of 22 cents.

The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 22 cents per share.

The company posted revenue of $340.5 million in the period, exceeding Street forecasts. Five analysts surveyed by Zacks expected $329.7 million.

The maker of Twinkie snack cakes gave investors a disappointing profit forecast for the year. Hostess expects full-year earnings in the range of 93 cents to 98 cents per share.

Shares of Hostess were down 90 cents to $22.16 on Thursday.

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