USA: Dean Foods reports fourth quarter earnings
Dean Foods Company (NYSE: DF) today announced results for its fourth quarter and full fiscal year ending May 27, 2001. Fourth quarter sales increased 12.6% to a record $1,160.4 million, compared to $1,030.7 million in the fourth quarter of fiscal 2000. The sales increase reflected improved sales in each of the Company's business segments. Net income excluding one-time items was $15.5 million, compared to $29.9 million in the fourth quarter of fiscal 2000. Diluted earnings per share excluding one-time items were $0.43 per share compared to $0.83 per share last year. Operating earnings excluding one-time items were $42.4 million versus $61.0 million in the fourth quarter of fiscal 2000. Net interest expense was $4.6 million higher this year as a result of higher debt levels for acquisitions and fiscal 2000 share repurchases.
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