USA: Aurora Foods' fourth-quarter results reflect continued financial and operating improvements
Aurora Foods Inc. (NYSE: AOR) today announced its financial and operating performance continued to improve significantly in the fourth quarter that ended December 31, 2000, with strong volume growth and major efficiency improvements driving the turnaround. For the fourth quarter of 2000, adjusted EBITDA, or earnings before interest, taxes, depreciation and amortization, increased 81% to $47.6 million from the same pro-forma year-ago period. These amounts exclude special charges and treat the acquisitions of Lender's® and Chef's Choice® and the accounting change adopted in the second quarter of 2000, as if they all took place at the beginning of 1999.
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