USA: Dean Foods reports second quarter results
Dean Foods Company (NYSE: DF) yesterday announced its second quarter and first half fiscal 2001 results. Second quarter sales increased 3.4% to a record $1,103.5 million, compared to $1,067.0 million in the second quarter of fiscal 2000. Continued growth of nationally branded products in the National Refrigerated Products Group and acquisitions drove the sales increase. Income from continuing operations was $23.6 million, compared to $27.0 million in the second quarter of fiscal 2000. Diluted earnings per share from continuing operations were $0.66, compared to $0.68 last year. Operating earnings were slightly above last year's second quarter operating earnings, but net interest expense was approximately $6.5 million higher as a result of higher debt levels for acquisitions and share repurchases.
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