UPDATE 1-Diamond Foods to shut Indiana facility, cut 100 jobs

Thu Oct 25, 2012 5:51pm EDT

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Oct 25 (Reuters) - Snack food maker Diamond Foods Inc said it will include the second and third quarters of fiscal 2010 to its financial restatements to adjust for walnut cost estimates, and shutdown its manufacturing facility in Indiana.

The plant closure will result in 100 job cuts, the maker of Emerald snack nuts and Kettle Chips said in a regulatory filing on Thursday.

Diamond took over the Fishers, Indiana facility, which is used for processing and packaging snacks, when it acquired Harmony Foods in 2006.

The company's Emerald products will now be manufactured at the Stockton, California facility, Diamond said.

Separately, the company, which is in the process of restating its financial statements for fiscal 2010 and 2011 following an accounting scandal, said it will restate results for two additional quarters.

The company had earlier planned to restate statements for fiscal years 2010 and 2011, all interim periods in fiscal 2011 and the fourth quarter of 2010.

The company has until Dec. 7 to file its reports and until Jan. 14, 2013 to hold its annual shareholder meeting, to stay listed on the Nasdaq.

"We are nearing the point of completion and look forward to being in a position to file our restated results," Interim CFO Mike Murphy said.

Diamond has been trying to recover from the accounting scandal that claimed the jobs of top executives and scuttled its plan to acquire Pringles potato chips.

Shares of the company closed at $18.57 on Thursday on the Nasdaq. They were up slightly after the bell.

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