American Italian Pasta says Reports May be Delayed Again

KANSAS CITY, Mo. (AP) _ American Italian Pasta stock was de-listed last year for failing to file required reports on time.

Today the Kansas City-based company said it may have to push those reports back further. American Italian Pasta makes Mueller's, Mrs. Grass, Pennsylvania Dutch, Anthony's and other dry pasta labels. It has repeatedly delayed filing annual financial reports for 2005 and 2006 as it investigates a series of accounting problems.

The company also warned that it would likely have to increase prices to offset higher wheat prices.

American Italian Pasta has been struggling since August 2005, when it announced its audit committee had started an internal review of the company's accounting procedures.

The review has led to restatements of earnings going back to 2000.


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