USA: Suiza Foods Corporation announces third quarter results
Suiza Foods Corporation (NYSE: SZA), the nation's leading dairy processor and distributor, today announced net sales grew 8.0% over the third quarter of 2000 to $1.6 billion for the quarter ended September 30, 2001. Diluted earnings per share before non-recurring items for the quarter totaled $0.98, a decline of 3.9% from $1.02 in the third quarter of 2000. As previously announced, the decline in earnings per share was entirely attributable to weaker than expected results at Consolidated Container Company, the packaging business in which Suiza owns a 43% interest. Had Consolidated Container's results been in line with expectations, Suiza would have reported diluted earnings per share of $1.10, growth of 7.8% over the prior year and consistent with consensus estimates.
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