Rogers Sugar Inc. reported unaudited consolidated earnings results for the first quarter ended December 28, 2013. For the quarter, the company reported revenues of $136,876,000 compared to $142,376,000 a year ago. EBIT was $19,425,000 against $23,437,000 a year ago. Net earnings of $12,516,000 against $15,940,000 a year ago. Net earnings per share was $0.13 compared to $0.17 a year ago. Adjusted EBIT was $17,901,000 compared to $22,365,000 a year ago. Adjusted net earnings was $11,403,000 compared to $14,694,000 a year ago. Adjusted net earnings per basic share was $0.12 compared to $0.16 a year ago. Cash flow from operations was positive $3,454,000 in the first quarter of 2014, as opposed to negative $5,669,000 in the comparable quarter of fiscal 2013. Capital expenditures were $948,000 compared to $967,000 a year ago. Free cash flow was $13,595,000 compared to $18,116,000 a year ago.

Volume for the first quarter was 162,258 metric tonnes, as opposed to 156,415 metric tonnes in the comparable quarter of last year, an increase of approximately 5,800 metric tonnes. Industrial volume was higher by approximately 4,700 metric tonnes due to the gain of additional volume with existing and new customers.

The company anticipate that consumer volume will be slightly higher in 2014 than it was in 2013, largely as a result of a new multi-year national agreement with a major consumer account taking effect in January 2014. The Company was able to enter approximately 5,600 metric tonnes under the U.S. global quota that opened and closed on October 1, 2013. Total sales volume is expected to be comparable to fiscal 2013. However, adjusted gross margin rate is expected to be lower in fiscal 2014 due to an increasingly competitive environment in all domestic segments.