MGP Ingredients, Inc. (MGPI)

[zsvq1p]

MGP Ingredients swings to quarterly loss

(6:50 AM ET) WASHINGTON (MarketWatch) -- MGP Ingredients Inc.reported a net loss of $318,000, or 2 cents a share, for the first quarter ended Sept. 30, a reversal from the prior year's profit of $7 million, or 41 cents a share. The Atchison, Kans-based grain-based products company's quarterly sales reached $88 million, up from $85 million a year ago. The company cited the impact of higher costs as well as lower ethanol pricing. Analysts, on average, had been looking for MGP Ingredients to generate a first-quarter profit of 14 cents a share on revenue of $103.9 million, according to analysts surveyed by Thomson Financial.