US food company Birds Eye Foods has posted higher quarterly net income, driven mainly by a decline in interest expense.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The company reported net income of US$8.0m for the third quarter to 27 March, compared to $3.8m in the third quarter of fiscal 2003.
Net sales for the third quarter of fiscal 2004 were approximately $206.3m, a decrease of 2.2% from $210.9m a year earlier. While net sales of the company’s branded frozen segment were consistent with that of the prior year, modest declines within the non-branded business and other categories accounted for the decline in net sales.
“While our ongoing operating businesses are improving, we continue to face challenges from escalating commodity markets,” said CEO Dennis Mullen.
“Our focus has been to emphasise our new product development efforts and we have recently launched several reduced carbohydrate and reformulated flavours of Birds Eye Voila!,” Mullen added.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
