US natural food distributor United Natural Foods has reported a rise in fourth-quarter earnings and sales, boosted by the company’s supply deal with Wild Oats Markets.
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The company posted net income of US$9.6m, or 23 cents per share, for the fourth quarter to 31 July, compared to $5.0m, or 12 cents per share, in the year-ago period.
Net sales for the fourth quarter of fiscal 2004 were $446.4m, an increase of 21.7% from the $366.8m recorded in the fourth quarter of fiscal 2003. Sales in the fourth quarter included a full quarter of the company’s sales as the primary distributor to Wild Oats Markets.
“These results reflect the success of our operating and marketing strategies which enabled us to experience solid growth in our three primary distribution channels. We were also able to strengthen our financial position and solidify our balance sheet. At the same time, we continued to strengthen our industry presence by entering new channels of business and fostering several new and renewed business relationships,” said chief executive Steven Townsend.
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