Canada-based organic foods producer SunOpta saw revenues in the second quarter of 2008 increase by 41.9%.
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For the period to 30 June 2008, revenue reached C$266.2bn versus $187.6bn for the same period in 2007, driven by internal growth of 20.5% and the acquisition of The Organic Corporation in April 2008.
Operating income for the quarter was $5.49m as compared to $6.8m for the same period last year.
Earnings for the quarter were $719m or $0.01 per diluted common share as compared to 2007 second quarter earnings of $3.4bn or $0.05 per diluted common share.
The results include professional and related fees and severance costs of $6.3m related to the company’s investigation into the write-down in the SunOpta Fruit Group Berry Operations and resulting delay in filing its 10-K report for the year ended 32 December 2007.
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By GlobalDataSteve Bromley, president and CEO of SunOpta said: “The results of the second quarter reflect strong growth and operating earnings in the company’s core operations, the impact of the ongoing turnaround efforts in the Berry Operations and the costs of the company’s independent investigation and related activities.”
SunOpta said it still expects to report revenue of more than $1bn for fiscal 2008.
