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Current Position:Home » News » Agri & Animal Products » Dairy Products » Topic

Dean Foods Q1 net income up 50%

Zoom in font  Zoom out font Published: 2012-05-11  Origin: FBR
Core Tip: US-based dairy company Dean Foods has reported that its net income for the first quarter of 2012 soared 50% to $37.9m, compared to $25.3m the previous year.


Net sales increased 5.4% to $3.2bn, compared to $3bn in the same quarter the previous year.

Dean Foods chairman and CEO Gregg Engles said that the three operating segments performed well in the first quarter, and the company expects strong full year growth across the business.


The company's WhiteWave-Alpro division, which offers a range of branded dairy, soya, and plant-based beverages and foods, posted sales increase of 13% to $571m, compared to $507m the previous year, due to new product launches and continued investment in marketing and brand building.


Its operating income increased 31% to $60m, up from $46m the previous year.


In the Fresh Dairy Direct segment, which is the company's largest revenue generator, net sales increased 4% to $2.3bn, driven by favorable commodity environment and cost reduction. Its operating income rose 18% to $101m, compared to $86m in the first quarter of 2011.


The Morningstar Foods division, a warehouse delivery dairy business that sells traditional and specialty dairy items, registered net sales of $325m, up 5% from the previous year, due to increased sales across both retail and foodservice channels. Its operating income increased 13% to $29m, compared to $25 million in the same quarter the previous year.


For the second quarter, the company expects adjusted earnings per share of $0.28- $0.33, and for the full-year, it has forecast adjusted earnings per share of $1.10-$1.20.

 
 
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