<PAGE>

                                                                    Exhibit 99.1

                     IMPERIAL SUGAR COMPANY AND SUBSIDIARIES
            PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS

<TABLE>
<CAPTION>
                                                              Twelve Months Ended September 30, 2002
                                                     --------------------------------------------------------
                                                                            Pro Forma              Pro Forma
                                                                            ---------              ---------
                                                      Historical           Adjustments               Total
                                                      ----------           -----------               -----
                                                   (In Thousands of Dollars, Except Share and Per Share Amounts)
                                                                               (1)
<S>                                                  <C>                   <C>                   <C>
Net Sales                                            $  1,297,831          $  (162,046)          $  1,135,785
Cost of Sales                                           1,196,545             (130,359)             1,066,186
                                                     ------------          -----------           ------------
Gross Margin                                              101,286              (31,687)                69,599

Selling, General and Administrative Costs                  64,138              (14,026)                50,112
Discount on Receivables Sold                                3,629                    -                  3,629
Depreciation and Amortization                              18,705               (3,740)                14,965
                                                     ------------          -----------           ------------
Operating Income                                           14,814              (13,921)                   893

Interest Expense                                          (22,288)              10,455                (11,833)
Gain on Sale of Assets                                     26,523                    -                 26,523
Other                                                       2,684                  348                  3,032
                                                     ------------          -----------           ------------

Income Before Income Taxes                                 21,733               (3,118)                18,615
Income Taxes                                                5,316               (1,091)                 4,225
                                                     ------------          -----------           ------------
Net Income                                           $     16,417          $    (2,027)          $     14,390
                                                     ============          ===========           ============


Basic and Diluted Earnings
     Per Share of Common Stock                       $       1.64                                $       1.44

Weighted Average Shares Outstanding                    10,000,000                                  10,000,000
</TABLE>
__________

(1)  Pro forma adjustments include the elimination of the results of DCB and a
     $10.1 million reduction of interest expense related to the repayment of
     debt with the proceeds of the sales transaction.

                                       (1)


<PAGE>

                     IMPERIAL SUGAR COMPANY AND SUBSIDIARIES
                 PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET

<TABLE>
<CAPTION>
                                                                        September 30, 2002
                                                     --------------------------------------------------------
                                                                            Pro Forma              Pro Forma
                                                                            ---------              ---------
                                                       Historical          Adjustments               Total
                                                       ----------          -----------               -----
                                                   (In Thousands of Dollars, Except Share and Per Share Amounts)
                                                                               (1)
<S>                                                  <C>                   <C>                   <C>
Current Assets:
     Cash and marketable securities                  $       8,825         $       (31)          $      8,794
     Receivables                                            33,544              10,200                 43,744
     Inventories                                           157,242             (10,978)               146,264
     Deferred costs and prepaid expenses                    24,090                (920)                23,170
                                                     -------------         -----------           ------------
          Total current assets                             223,701              (1,729)               221,972
                                                     -------------         -----------           ------------

Plant Property and Equipment, net                          206,719             (41,158)               165,561
Other Assets                                                32,945                                     32,945
                                                     -------------         -----------           ------------
               Total                                 $     463,365         $   (42,887)          $    420,478
                                                     =============         ===========           ============

Current Liabilities:
     Accounts payable - trade                        $      67,140         $    (6,019)          $     61,121
     Short-term borrowings and current
          maturities of long-term debt                      10,289                                     10,289
     Other current liabilities                              62,499              (6,225)                56,274
                                                     -------------         -----------           ------------
          Total current liabilities                        139,928             (12,244)               127,684
                                                     -------------         -----------           ------------

Long-term Debt                                             148,878             (89,966)                56,102
Other Liabilities                                           76,299              (8,239)                68,060
Shareholders' Equity                                        98,260              67,562                168,632
                                                     -------------         -----------           ------------
               Total                                 $     463,365         $   (42,887)          $    420,478
                                                     =============         ===========           ============
</TABLE>
__________

(1)  Pro forma adjustments include adjustments for the sale of net assets of DCB
     for gross proceeds of $115 million. Net proceeds, after deducting $10.2
     million placed in escrow and transaction expenses of $2.8 million, were
     used to repurchase receivables previously sold in a securitization
     transaction and to reduce long-term debt. The transaction resulted in a
     gain of approximately $67 million.

                                       (2)