Suiza Foods Corporation (NYSE: SZA), the nation’s largest dairy processor and distributor, announced yesterday that it remains comfortable with its previously announced fourth quarter earnings estimate of approximately $1.07 per share.
“Given the recent announcement from Dean Foods, we want to reiterate that the fundamentals of our business are sound,” said Barry Fromberg, Executive Vice President and Chief Financial Officer. “We delivered record sales and earnings in the third quarter, and we continue to be confident about our ability to execute against our strategy.”
Suiza announced its fourth quarter earnings estimate in a webcast conference call with analysts and investors on November 2, 2000.
Suiza Foods Corporation, based in Dallas, Texas, is the nation’s leading dairy processor and distributor, producing a full line of company-branded and customer-branded products. National brands include International Delight®, Second Nature®, Naturally Yours®, Mocha Mix®, Sun Soy(TM), kidsmilk(TM) and fitmilk(TM). Regional brands consist of Adohr Farms®, Barbe’s®, Brown’s Dairy(TM), Broughton®, Country Fresh®, Dairymen’s®, Flav-O- Rich®, Lehigh Valley Farms®, London’s®, Meadow Gold®, Model Dairy(TM), Garelick Farms(TM), Oak Farms®, Robinson®, Schepps®, Shenandoah’s Pride®, Suiza(TM), Louis Trauth(TM), Tuscan®, Velda Farms® and West Lynn Creamery®, as well as Celta® in Spain. Suiza also sells products under partner or licensed brands in certain regions, including Borden®, Lactaid®, Foremost® and Pet®. Additionally, the company owns approximately 43% of Consolidated Container Company, one of the nation’s largest manufacturers of rigid plastic containers.
The statement in this press release regarding the company’s confidence in its earnings estimate for the fourth quarter of 2000 is a “forward-looking statement” and it is made pursuant to the safe harbor provision of the Securities Litigation Reform Act of 1995. This statement involves risks and uncertainties that may cause results to differ materially from the statement set forth in this press release. The company’s ability to meet targeted earnings per share depends on a variety of economic, competitive and governmental factors, many of which are beyond the company’s control and which are described in Suiza’s filings with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the quarter ended September 30, 2000. The forward-looking statement in this press release speaks only as of the date of this release. Suiza expressly disclaims any obligation or undertaking to release publicly any updates or revisions to such statement to reflect any change in its expectations with regard thereto or any changes in the events, conditions or circumstances on which any such statement is based.