Hillshire Brands has reported results for the fourth quarter and full fiscal year 2014. Fourth quarter net sales grew 10.7% to $1.1 billion, while fourth quarter adjusted1 operating income grew 18.8%; reported operating income grew 20.9%. Full-year net sales grew 4.2% to $4.1 billion with growth in both operating segments.
"I am pleased with our results for fiscal year 2014, which culminated in a very strong fourth quarter,” said Sean Connolly, president and chief executive officer of The Hillshire Brands Company. “Despite acute cost inflation, we delivered better than expected performance through a disciplined approach to brand building, pricing and cost management."
"I am very proud of the entire Hillshire team and the terrific job they have done with our brands. We delivered against our goal of building a different kind of food company, one that is simultaneously innovative and lean. This approach has created significant value for our shareholders and a fulfilling work experience for our people."
"We are excited to move forward with Tyson Foods. We have been working closely with the Tyson team to plan out the successful integration of the two companies and look forward to executing the merger."
As a result of the proposed merger, the company is not providing public targets for FY 2015 and is not holding a conference call to discuss results.
