Tasty Baking profit falls on relocation costs

Tasty Baking Co. today reported a 16.8 percent decline in second-quarter net income, caused by $500,000 in additional after-tax depreciation related the Philadelphia company's planned moved to a new bakery and headquarters at the Navy Yard.

The company said it earned $900,000 in the second quarter on net sales of $43.8 million compared with $1.1 million on net sales of $1.6 million in the same period a year ago. Higher commodity costs also hurt profitability, the Philadelphia company said.

Its shares were up 9 cents at $10.47 in Nasdaq trading this afternoon.