Page 1

IMPERIAL SUGAR Annual Report 2011


SUGAR AND SPICE...


Table of Contents


FIN H.

2 FIN BEG.

29

FIN H CONT.

5

STOR CONT.

12

13

9

37

FIN PG. 2

45 BOD

ABBREVIATIONS

33

STOR END.

STOR BEG.

H..............................HIGHLIGHTS PG........................................PAGE FIN..............................FINANCIAL BEG...........................BEGINNING BOD......BOARD OF DIRECTORS STOR.................................STORY CONT...........................CONTINUE

FIN PG. 1

41 FIN END.


The Molecular Sweetness of Sugar....Sucrose has the scientific make-up of a few key elements, those elements are Hydrogen, Oxygen, Carbon. The combination of these elements into a chemical chain; are what make it possible for sugar to have thatysweet taste when it comes into contact with the surface of the human tongue.


INTRODUCTION

Company Information


Diluted earnings

per share from continuing operations

Net Sales

Shareholder’s Equity

86.4

Long Term

Debt

Total Assets

Income (loss) from

continuing operations

(23.8)


IMPERIAL SUGAR COMPANY The oldest continuously operating company in Texas, Imperial Sugar Company’s proud heritage began in Sugar Land, Texas, in 1843. Today, Imperial Sugar is one of the largest producers and marketers of refined sugar in the NAFTA region. The Company markets sugar and sweetener products under the Dixie Crystals,Holly, Imperial and Wholesome Sweetenersbrands and under private labels. It also sells a variety of sugar products to industrial and foodservice customers. The Company’s stock is traded on the NASDAQ Stock Market under the ticker symbol “IPSU.”

CH OH 2

2

H OH

H

H

OH

OH

H

O


Sugar Sales 2011

VOLUME (000 cwt) World/Toll......................1,364 Distributor......................3,463 Consumer......................5,670 Industrial.......................8,004 Domestic Sales............17,137 Sugar Sale...................18,501

PRICE (per cwt) $21.45................World/Toll $29.42................Industrial $31.04................Sugar Sales $31.45................Distributor $31.80................Domestic Sales $35.36................Consumer

CH OH 2

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Sugar Sales 2010

VOLUME (000 cwt)

PRICE (per cwt) World/Toll................$19.07 Industrial................$31.02 Sugar Sales................$32.04 Domestic Sales................$33.37 Distributor.................$34.31 Consumer.................$36.13

2,476..................World/Toll 4,741..................Industrial 8,040..................Sugar Sales 11,305.................Distributor 24,086................Domestic Sales 26,562................Consumer


THE STORY I M PE RI AL S U G AR


Imperial Sugar as its never been seen before...Broken down into its most simplistic scientific form called the chemical chain. Sucrose would be the name of the chemical chain for sugar; altered slightly depending on each sugar’s content. All the sugars have three molecules in common though and those would be Hydrogen, Oxygen, and Carbon. Thanks to the combination of these molecules it makes the sweet taste of Imperial Sugar’s sugar possible.


H

COCONUT

BUNDT

CAKE

WITH CONFECTION

SUGAR GLAZE

H ydrogen is half of the combination that makes our products so sweet and makes eveTryone’s sweet tooth happy. Whether its table sugar, brown sugar, powdered sugar, or pretty much any other kind of sweet treat you can think of, you owe it to this molecule for making your day a little bit better tasting! CH OH 2

11

H OH

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OH

OH

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O


3 Cups cake flour 1/2 Teaspoon salt 1 Cup butter, at room temp 2 1/2 Cups sugar 6 Large eggs 2 Teaspoons vanilla extract 1/2 Teaspoon coconut extract 1 3/4 Cups Imperial Confection Sugar Sweetened flaked coconut 1/4 Cups unsweetenedcoconut milk, divided 2 Cups flaked coconut


OH

DULCE

DE LECHE CORTADA

The oxygen-hydrogen bond is where the magic is, because of the special alignment of oxygen and hydrogen molecules in sweet tasting substances these two molecules are able to reach to and trigger the taste-buds on your tongue. Sweetness is not caused by the amount of O-H bonds but rather the proper setting of them, as scientists can create “Artificial sweetness” by creating similar bonds on substances that don’t taste sweet normally. Don’t worry though; we only use 100% real sugar!


8 Eggs, beaten one by one with a hand mixer in a bowl 6 Cups of milk 4 Cups of Imperial Extra Fine Granulated Sugar 1/2 Cup of raisins Juice of 1 lime 1 Cinnamon stick A few drops of rum A few drops of vanilla extract

CH OH 2

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WONDEROUS

EIGHT TREASURE

TEA

CH2-OH is the sugar put together, this is what you see when you are baking cookies for your loved ones, adding a little bit of kick to your coffee, or just want your cereal a little sweeter in the morning. Sugars all have roughly the same composition, what changes is how they are put together which is how you get your favorite sugar separated from the others. Table sugar, brown sugar, and powdered sugar for example all have the same chemical makeup but they all put together differently which gives each one of them that special flavor and texture you and all of our customers enjoy so much.

CH OH 2

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OH

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2 White Chrysanthemum flowers 1 small piece of dried mandarin orange peel 2-4 Sweetner Tablets 1 longan 1 red date 1 tiny piece of ginseng root 1 dried medlar berry 1 piece of rock sugar 1 dried apple slice 1 teaspoon of Dragon Well Green Tea 1 ½ cups (430ml) of water


BUILDING A STRONGER COMPANY...


Imperial Sugar strengthened its position in the U.S. and Mexican sugar industries during fiscal 2009, achieving important milestones that fortified our business foundations and positioned the Company for future growth. I am immensely proud of our associates and partners who have worked hard to overcome substantial challenges. Their forward thinking actions have allowed the Company to emerge a more capable producer and supplier of products as well as an advocate for the sugar industry. Throughout the year, our team executed well, identifying and solving important issues for customers, creating new opportunities and positioning the Company for the future. As a result of their efforts, we have renewed our refinery technology, built stronger customer relationships, successfully expanded our operations beyond the U.S. border into Mexico, broadened and improved the

profitability of our portfolio, and demonstrated our ability to develop new products and relations with current employees. Over the past two years, Imperial Sugar has been focused on four critical drivers that reflect our performance goals, our ambitions and how we do business. These core strategies provide the clear direction required to carry out our mission and create superior value for our customers, stockholders and employees. They are an unwavering commitment to; partnering with customers to add value, differentiate Imperial and solidify relationships; enhancing the performance and profitability of our core sugar franchise; expanding participation in the growing organic, natural foods and fair trade channels; and growing our presence throughout North America and, in doing so, maximizing value creation from our joint ventures in other countries and states.


During fiscal 2009, we made significant achievements in each of these critical areas that have strengthened our competitive position. While our operating and financial results were impacted by reduced volumes and higher costs related to the industrial accident at the Port Wentworth, Georgia, refinery in 2008, we believe that adherence to these strategies has allowed us to become a stronger company Delivering value for shareholders through operational excellence, capital stewardship and profitable growth remains the centerpiece of our strategy. We appreciate the confidence investors have shown as we successfully rebuilt the Port Wentworth refinery, resolved business risk in Louisiana, grew the contribution from new operations and sustained our liquidity throughout this period of heavy investment. We understand that earning strong returns on the capital that our

shareholders entrust to us is the job of every Imperial employee and one that will create long-term value for shareholders. We have made significant progress in becoming a customer-focused company that anticipates needs and provides innovative solutions that deliver results. Our product development process begins with conversations with customers that help us understand their needs and respond with solutions that have a positive impact. We strive to sustain our preferred partnership with customers through effective new product development, high-quality service and the highest standards of food safety. Imperial Sugar really heavily values its consumers and would only prefer they have the highest quality product available to them.


to the

Our research and development efforts have led to five important new product launches, including Redi-Measure brown sugar packets, Baker’s Supreme frosting mixes, food service ready-to-use liquid sweetener for beverages, one and two-pound granulated sugar boxes and new glazing formulations for producers of baked goods and other refineries.

Of equal importance, we made significant progress in our efforts to improve customer service. During 2009, we substantially improved our right-first-time performance, which has led to an increased share of sales with key retailers. Food security investments to initiate Safe Quality Food (SQF) certification and to improve American Institute of Baking (AIB) audit performance are helping to assure customers of the safety and quality of Imperial’s product offerings to the consumers.

We are also working to achieve the competitive advantages and market leadership enjoyed by industry technology leaders through the transformation of our refining assets to some of the industry’s most modern facilities. The reconstruction of our Port Wentworth refinery has elevated our drying, bulk loading and packaging technologies to state-of-the art. More advanced equipment design is expected to lead to improved productivity, food safety and dust management. With the formation of the LSR (Louisiana Sugar Refining) joint venture with Louisiana growers and millers and Cargill now finalized, construction of a new state-of-the-art, 3,100 tons per day refinery has commenced, and when Completed, will result in the retirement of Imperial Sugar’s existing refinery built originally in 1898 that carried out operations.


Following the start up of the LSR refinery in 2011, Imperial will own or participate in two of the most modern sugar refineries in North America and the world. Safety improvements at both of Imperial Sugar’s refineries have led the industry in addressing combustible dust hazards. In order to create the safest work environment in the sugar industry, we retained the world’s leading experts in dust control and mitigation, fire protection, electrical classification and design of food processing facilities to plan and improve the Company’s refineries. Even in the face of a serious economic recession, top-line growth for Wholesome Sweeteners, our 50% owned joint venture, exceeded 16% for fiscal 2009, while the retail share of its product mix rose to 45%, improving

portfolio profitability. New product launches of club store agave syrup packaging and the introduction of the first Fair Trade Organic squeeze honey product have supported growth initiatives. The Company also completed significant supply chain improvements designed to lower costs and improve profitability. Imperial has the option to acquire our partner’s 50% share next year and this will the company’s expansion into a new branch. Our Mexican joint venture, Comercializadora Santos Imperial (CSI), had stellar performance in fiscal 2009, more than doubling its yearover-year earnings contribution. This was accomplished, in part, through our efforts to overcome quality perception issues of Mexican sugar sold in the U.S., which allowed us to sell sugar in the most profitable markets on both sides of the border.


Shareholders

Pricing in Mexico has risen sharply throughout the year as large exports to the U.S. have tightened supplies available for Mexican buyers prior to the start of the new crop late in 2009. Lower sugar cane production in 2009 and another small crop projected for 2010has contributed to the tight supply in Mexico and prices are expected to remain strong throughout the next fiscal period. In the year ahead, we will be working closely with our partner to explore ways to leverage the profitability and geographic reach.

The U.S. Department of Agriculture (USDA) forecast predicts tighter U.S. sugar supplies for the coming year as domestic production is not expected to be sufficiently large to replenish the low level of stocks in the U.S. and satisfy relatively strong demand. During 2009, Mexican imports played an integral role in fulfilling U.S. demand as a weak peso allowed

Mexican suppliers to sell larger than normal quantities of sugar into the U.S.; however, depleted inventories and lower production levels may prevent Mexico from meeting U.S. supply requirements in 2010. As a result, raw sugar imports from other sources will be required and capacity utilization is expected to be higher than normal.

In addition, excessively wet conditions in Brazil coupled with two years of drought in India have led to tight global supply, raising world prices to 28-year highs. The increase in world raw sugar prices has pushed U.S. raw sugar prices upward as domestic buyers seek to sustain the attractiveness of the U.S. quota to international producers. U.S. refined prices have risen in response to these industry dynamics as refiners attempt to maintain margins in view of higher raw sugar costs. Industry conditions, coupled with a renewed appreciation for the


s

natural goodness of sugar, bode well for the U.S. industry in the year ahead. Lets hope that the geological and weather related instances push the company any further ahead in the comingyears with high profit margins. Sincerely, John C. Sheptor Chief Excutive Officer

JOHN C. SHEPTOR President and Chief Executive Officer


A GRAIN AT A TIME...


Lately, it seems that we’ve been surrounded by messages about sustainability in every aspect of our lives. But what does it all mean? Here at Imperial Sugar, we are proud to have embraced a three-tiered approach incorporating Environmental, Economic and Social considerations in our efforts to create long-term, sustainable value. Sustainability isn’t just about “green” practices. It’s about being poised to move into the future as a robust, successful company. It’s a challenge we’ve met throughout our history and will continue to meet with talent, creativity, and sensitivity to our employees. As one of the largest flexible sugar companies in America, Imperial Sugar Company has built its strong reputation throughout 150 years of providing quality products to our customers, products that are tailored to their needs and do the job better than any other products could.

We are extremely proud of this long history, and we look forward to continuing to lead the way in new and exciting developments in sugar development and to remaining a rewarding and profitable investment for our shareholders. In many ways, our economic sustainability rests on our commitment to driving sugar forward, a commitment that we’ve held firmly to for the past century and a half, and one we’ll continue to uphold moving forward. The process of fortification continues in fiscal 2010 as we build on last year’s initiativesand take our next steps. We have been successful as an innovator, in leading change and in


partnering with others. Our customer-first culture has led to enhanced relationships and newopportunities. The foundations being laid today enable us to grow faster, stronger and better tomorrow that will strengthen our bond with our custmors as well as our shareholders in the long-run. As we look ahead, we remain focused on our goals to become: One of North America’s premier sweetener companies; the leading source of organic, fair trade and natural sweeteners; the industry leader in innovation, service and safety; and a change agent and strong advocate for the sugar industry within the U.S. and other lying boundaries. I view the future of Imperial Sugar Company with optimism and confidence. In 2010, our focus is on sustaining and expanding this leadership and searching for new

opportunitiesto grow and create value. We step forward into 2010 with a stronger base business andwith opportunities for new ventures, new sales channels and new geographies around the globe...that are a brand new horizon for the company itself. I thank our employees for their dedication and hard work and our shareholders and board of directors for their support and confidence in the company. Sincerely,

JOHN C. SHEPTOR President and Chief Executive Officer


The Key to Imperial Sugar’s growth is. . ..Sustained performance through an unfaltering dedication to quality and reliability. Over the past year, our team worked diligently to ensure that everycustomer order was expedited and completed in the most timely and accurate manner possible. Our efforts resulted in a strong improvement in right-first-time performance, leading to an increased share of sales with key retailers.


FINANCES FINANCIALS FOR 2 11


FINANCIAL OVERVIEW

Imperial Sugar Company...Was incorporated in 1924 and is the successor to

a cane sugar plantation and milling operation founded in Sugar Land, Texas in the early 1800s that began producing granulated sugar in 1843. Imperial Sugar Company (which together with its subsidiaries is referred to herein as the “Company”,“we”, “us”, “our” and “ours”) is one of the largest processors and marketers of refined sugar in the NAFTA region. We refine, package and distribute sugar at facilities located in Georgia and Louisiana. For the year ended September 30, 2009, we sold approximately 15.2 million hundredweight, or cwt, of refined sugar. Additionally, through joint venture operations we market sugar and other sweeteners in Mexico and Canada. We offer a broad product line and sell to a wide range of customers directly and indirectly through wholesalers and distributors. Our customers include retailers, restaurant chains, distributors and industrial customers, principally food manufacturers. Our products include granulated, powdered, liquid and brown sugars marketed in a variety of packaging options (6 oz shakers to 50pound bags and in bulk) under various brands (Dixie Crystals, Holly Imperial and Wholesome Sweeteners) or private labels. In addition, we produce selected specialty sugar products.


FINANCIAL OVERVIEW CONT.

The Company experienced an explosion and fire on February 7, 2008, at its sugar refinery in PortWentworth, Georgia, which is located near Savannah, Georgia. Production at the refinery, which comprises approximately 60% of our capacity, was suspended after the accident until we commenced limited bulk sugar production in the summer of 2009 and initiated packaging production in the fall of 2009. The reconstruction project is expected to be completed when the refined sugar silos are operational in January 2010. In November 2009, we entered into a joint venture agreement which will result in the vertical integration of our Gramercy, Louisiana refining operation with our Louisiana raw sugar supplier. Under the terms of the agreement we will contribute our refinery assets to the joint venture which is constructing a new cane sugar refinery adjacent to the existing refinery. Please read “—Joint Venture Operations”. We maintain sales offices at our headquarters in Sugar Land, Texas, in Port Wentworth, Georgia and atregional locations across the United States. Sales are accomplished through a variety of methods, including direct negotiation, publishing price lists, competitive bidding processes and trade promotions.

CH OH 2 H

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QUARTER

DEC. 31

MAR. 31

JUN. 31

Net Sales................................................................. $ 108,64 Gross Margin.......................................................... (2,970)

11

$124,302

$142,291

$147,322

ENDED

10 10 10 (5,822)

304

19,541

(12,578)

(10,481)

(188)

644

-

-

-

64

(12,578)

(10,481)

(188)

$1,112,898

$1,552,800

$1,635,570

$1,672,390

$ (0.05)

$

$

$

Income (Loss) from Continuing Operations......... Income from Discounted Operations.................... Net Income (Loss).................................................

Earnings Per Share: Income (Loss) from Cotinuing Operations: Basic................................................................ Diluted.............................................................. Income from Discontinued Operations: Basic................................................................ Diluted.............................................................. Net Income (Loss): Basic................................................................ Diluted.............................................................. Cash Dividends Paid.............................................

CH OH 2 H

H OH

H

H

OH

OH

O

SEP. 31

(580)

(0.05)

(1.07) (1.07)

(0.89) (0.89)

(0.02) (0.02)

$

0.06

$

0.06

$

0.01

0.01

$

0.07

$

0.07

$

0.02

$

0.02

$

0.31

$

0.35

$

3.58

$

0.10

$

-

$

- $

-

$

-

-

(1.07)

$ (0.89)

$ (0.02)

(1.07)

(0.89)

(0.02)


QUARTER

ENDED

DEC. 31

MAR. 31

JUN. 31

SEP. 31

09 09 09 10

Net Sales................................................................. $ 215,505 $145,222 $106,887 $125,809 14,195 2,217 (5,006) (4,092) Gross Margin.......................................................... (15,531) (12,516) (5,397) Income (Loss) from Continuing Operations......... 12,263 - - - 260 Income from Discounted Operations.................... 64 (12,578) (10,481) (188) Net Income (Loss)................................................. $2,420,270

Earnings Per Share: Income (Loss) from Cotinuing Operations: Basic................................................................ Diluted.............................................................. Income from Discontinued Operations: Basic................................................................ Diluted.............................................................. Net Income (Loss): Basic................................................................ Diluted.............................................................. Cash Dividends Paid.............................................

$1,755,480

$1,348,900

$1,357,460

$

1.06

$ (1.33)

$ (1.07)

$ (0.46)

1.04

(1.33)

(1.07)

(0.46)

$

-

$

-

$

-

$

$

1.06

1.04

$

0.07

$

2.57

$

$

4.27

$

7.89

$

- $ (1.33)

-

$

- $ (1.07)

(1.33)

$ (0.44)

(1.07) 0.07 3.58

0.02 0.02

(0.44) $

0.07

$

1.91


RESULTS OF OPERATIONS

FISCAL YEAR

SEP. 30

SEP. 30

ENDED 11 10

Net Sales: Sugar Sales............................................................ $ By-Product Sales................................................... Other........................................................................

$

(IN MILLIONS OF DOLLARS)

574

$

15

21

3 592

874 4

$

899


RESULTS OF OPERATIONS CONT.

FISCAL YEAR

SEP. 30

SEP. 30

ENDED 09 08

Net Sales: Sugar Sales............................................................ $ By-Product Sales................................................... Other........................................................................

$

(IN MILLIONS OF DOLLARS)

421

$

11

17

2 434

723 3

$

743

CH OH 2 H

H OH

H

H

OH

OH

O


OPERATING COSTS

SALES PRICES

HIGH

LOW

28.00

$ 17.07

FISCAL 2010 December 31, 2009............................................... $ March 31, 2010...................................................... June 30, 2010........................................................ September 30, 2010..............................................

CH OH 2 H OH

H

H

OH

OH

O

$

0.07

23.22 18.92

16.97 12.66

2.57 0.07

16.43

11.72

0.07

$ 86.57

$ 58.42

FISCAL 2011 December 31, 2010............................................... $ March 31, 2011...................................................... June 30, 2011........................................................ September 30, 2011..............................................

H

DIVIDENDS

16.74

$

9.69

$

$

2.78

0.07

14.66 12.95

5.10 6.32

0.07 0.02

16.00

10.87

0.02

$ 60.35

$ 31.98

$

0.18


OPERATING COSTS CONT.

SALES PRICES

FISCAL 2009 December 31, 2008............................................... $ March 31, 2009...................................................... June 30, 2009........................................................ September 30, 2009..............................................

HIGH

LOW

26.00

$ 16.03

DIVIDENDS $

0.05

21.15 17.31

15.77 11.83

2.33 0.05

15.89

10.91

0.05

$ 80.35

$ 54.54

FISCAL 2008 December 31, 2007............................................... $ March 31, 2008...................................................... June 30, 2008........................................................ September 30, 2008..............................................

15. 46

$

8.57

$

$

2.48

0.05

14.13 11.97

4.87 6.10

0.05 0.02

15.00

9.69

0.02

$ 56.56

$ 29.23

$

0.14


CONTRACTUAL OBLIGATIONS

QUARTER

ENDED

MAR. 31

JUN. 31

11

$124,302

$142,291

$147,322

(5,822)

304

19,541

(12,578)

(10,481)

(188)

-

-

-

(12,578)

(10,481)

(188)

$1,112,898

$1,552,800

$1,635,570

$1,672,390

$ (0.05)

$

$

$

DEC. 31

10 10 10

Net Sales................................................................. $ 108,64 Gross Margin.......................................................... (2,970) Income (Loss) from Continuing Operations......... (580) 644 Income from Discounted Operations.................... 64 Net Income (Loss).................................................

Earnings Per Share: Income (Loss) from Cotinuing Operations: Basic................................................................ Diluted.............................................................. Income from Discontinued Operations: Basic................................................................ Diluted.............................................................. Net Income (Loss): Basic................................................................ Diluted.............................................................. Cash Dividends Paid.............................................

SEP. 31

(0.05) $

0.06

$

0.06

$

0.01

(1.07) (1.07)

$

-

(0.89) $

- $

(1.07)

(0.89)

-

(0.02) $

- $ (0.89)

(0.02)

-

$ (0.02)

0.01

$

0.07

$

0.07

$

0.02

$

0.02

$

0.31

$

0.35

$

3.58

$

0.10

(1.07)

(0.89)

(0.02)


CONTRACTUAL OBLIGATIONS CONT.

QUARTER

ENDED

DEC. 31

MAR. 31

JUN. 31

SEP. 31

09 09 09 10

Net Sales................................................................. $ 215,505 $145,222 $106,887 $125,809 14,195 2,217 (5,006) (4,092) Gross Margin.......................................................... (15,531) (12,516) (5,397) Income (Loss) from Continuing Operations......... 12,263 - - - 260 Income from Discounted Operations.................... 64 (12,578) (10,481) (188) Net Income (Loss)................................................. $2,420,270

Earnings Per Share: Income (Loss) from Cotinuing Operations: Basic................................................................ Diluted.............................................................. Income from Discontinued Operations: Basic................................................................ Diluted.............................................................. Net Income (Loss): Basic................................................................ Diluted.............................................................. Cash Dividends Paid.............................................

$1,755,480

$1,348,900

$1,357,460

$

1.06

$ (1.33)

$ (1.07)

$ (0.46)

1.04

(1.33)

(1.07)

(0.46)

$

-

$

-

$

-

$

$

1.06

1.04

$

0.07

$

2.57

$

$

4.27

$

7.89

$

- $ (1.33)

-

$

- $ (1.07)

(1.33)

$ (0.44)

(1.07) 0.07 3.58

0.02 0.02

(0.44) $

0.07

$

1.91 CH OH 2 H

H OH

H

H

OH

OH

O


SUPPLEMENTARY DATA

FISCAL YEAR

SEP. 30

SEP. 30

ENDED 11 10

Net Sales: Sugar Sales............................................................ $ By-Product Sales................................................... Other........................................................................

$

CH OH 2 H

H OH

H

H

OH

OH

O

(IN MILLIONS OF DOLLARS)

574

$

15

21

3 592

874 4

$

899


SUPPLEMENTARY DATA CONT.

FISCAL YEAR

SEP. 30

SEP. 30

ENDED 09 08

Net Sales: Sugar Sales............................................................ $ By-Product Sales................................................... Other........................................................................

$

(IN MILLIONS OF DOLLARS)

421

$

11

17

2 434

723 3

$

743


FINANCIAL STATEMENTS

SALES PRICES

HIGH

LOW

28.00

$ 17.07

FISCAL 2010 December 31, 2009............................................... $ March 31, 2010...................................................... June 30, 2010........................................................ September 30, 2010..............................................

DIVIDENDS $

0.07

23.22 18.92

16.97 12.66

2.57 0.07

16.43

11.72

0.07

$ 86.57

$ 58.42

FISCAL 2011 December 31, 2010............................................... $ March 31, 2011...................................................... June 30, 2011........................................................ September 30, 2011..............................................

16.74

$

9.69

$

$

2.78

0.07

14.66 12.95

5.10 6.32

0.07 0.02

16.00

10.87

0.02

$ 60.35

$ 31.98

$

0.18


FINANCIAL STATEMENTS CONT.

SALES PRICES

FISCAL 2009 December 31, 2008............................................... $ March 31, 2009...................................................... June 30, 2009........................................................ September 30, 2009..............................................

HIGH

LOW

26.00

$ 16.03

DIVIDENDS $

0.05

21.15 17.31

15.77 11.83

2.33 0.05

15.89

10.91

0.05

$ 80.35

$ 54.54

FISCAL 2008 December 31, 2007............................................... $ March 31, 2008...................................................... June 30, 2008........................................................ September 30, 2008..............................................

15. 46

$

8.57

$

$

2.48

0.05

14.13 11.97

4.87 6.10

0.05 0.02

15.00

9.69

0.02

$ 56.56

$ 29.23

$

0.14

CH OH 2 H

H OH

H

H

OH

OH

O


B OARD OF DIRECTORS

SIGNATURE

TI TLE

John C. Sheptor...................................................... PRESIDENT & CHIEF H.P. Mechler............................................................ VP & FINANCIAL PRINCPAL James J. Gaffney................................................... CHAIRMAN OF THE BOD Curtis G. Anderson.............................................. DIRECTOR Gaylord O. Coan................................................... DIRECTOR Yves-Andre Istel...................................................... DIRECTOR Ronald C. Kesselman............................................. DIRECTOR David C. Moran....................................................... DIRECTOR John E. Stokley........................................................ DIRECTOR John K. Sweeney.................................................... DIRECTOR

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SHAREHOLDER INFORMATION

Annual Meeting... The 2011Annual Meeting of Shareholders will be held on Friday, June 3, 2011, at 8:00 a.m. CST at the Marriott Town Square, 16090 City Walk, Sugar Land, Texas 77479.

Stock Exchange Listing... The Common Stock of Imperial Sugar Company is traded on the NASDAQ Stock Market (ticker symbol IPSU).

Transfer Agent and Registrar... BNY Mellon Shareowner Services Shareholder Relations Department 1-800-524-4458 9:00 a.m. – 5:00 p.m. EST Website: http://www.bnymellon.com

For Shareholder Inquiries... Shareholder Relations Department P.O. Box 358015, New York, New York 15252-8015

Transfer of Stock Ownership... Receive & Deliver Department P.O. Box 358317, New York, New York 15252-8317

Address Changes... Receive & Deliver Department P.O. Box 358011, New York, New York 15252-8011

Independent Public Accounting Firm... Deloitte & Touche, L.L.P. Suite 4500, 1111 Bagby St., Houston, Texas 77002-2503


...AND EVERYTHING NICE.


Imperial Sugar Annual Report  

Mock annual report done for the company Imperial Sugar in Publication class.

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