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Other, net
(expense) in the second quarter of fiscal 2005 was ($8,307,000),
as
compared to Other, net (expense) of ($403,000) in the same
quarter of fiscal
2004. Higher green coffee prices during the second quarter of
fiscal 2005
resulted in a decrease in the value of green coffee futures and
options used by
the Company to hedge against a decline in commodity prices.
Other, net
(expense) during the second quarter of fiscal 2005 consisted of
net realized
and unrealized coffee trading losses of ($8,821,000), offset by
net gains of
$514,000 on other investments.
For the first six months of fiscal 2005, Other, net (expense)
was ($8,222,000),
as compared to Other, net income of $1,169,000 for the same
period of fiscal
2004. Higher green coffee prices during the second quarter of
fiscal 2005
resulted in a decrease in the value of green coffee futures and
options used by
the Company to hedge against a decline in commodity prices.
Other, net
(expense) during the first six months of fiscal 2005 consisted
of net realized
and unrealized coffee trading losses of ($9,663,000), offset by
net gains on
other investments. The net realized and unrealized losses
during the three and
six month periods ended December 31, 2004 consisted of the
following (in
thousands):
Three month period Six month
period
ended ended
December 31, 2004 December
31, 2004
Realized coffee gains $1,340 $2,063
Realized coffee losses (7,665) (7,687)
Unrealized coffee losses (2,496) (4,039)
Totals ($8,821) ($9,663)
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