USA: Performance Food Group reports 2000 sales gained 27% to record $2.6 billion
Performance Food Group (Nasdaq/NM:PFGC): Fourth quarter net earnings increased 34%; diluted net earnings per share of $0.51. Fourth quarter net sales increased 23% to $678 million. Performance Food Group (Nasdaq/NM:PFGC) yesterday announced diluted net earnings per share of $1.82 for the year ended December 30, 2000, a 22% increase over the pro forma diluted net earnings of $1.49 for 1999. Pro forma adjustments for 1999 add back $3.8 million of non-recurring merger expenses for NorthCenter Foodservice, adjust income taxes as if NorthCenter was taxed as a C corporation for income tax purposes rather than as an S corporation prior to the merger and excludes a gain of $768,000 from the sale of an investment. Net sales for 2000 increased 27% to a new high of $2.61 billion, up from $2.06 billion for 1999.
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