Preheat oven to 350°F and lightly butter a 9-inch round cake pan; set aside.
Cream together sugar and butter with a mixer for 3 to 4 minutes or until light and fluffy. Add eggs one at a time, beating well after each addition. Add preserves, sour cream and almond extract, beat for 1 minute more.
Stir together flour, baking powder and salt; lightly fold into batter.
Spread evenly in prepared pan and sprinkle with almonds.
Bake for 30 to 40 minutes or until a toothpick inserted in the center comes out clean. Let cool and dust with powdered sugar.