US food distributor United Natural Foods has said it expected to incur approximately US$6.0m to $8.2m of share-based compensation expense on a pre-tax basis during the 2006 fiscal year related to the implementation of an accounting rule.
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Earnings excluding special items and share based compensation for the year to 31 July 2006 are expected to be in the range of $1.14 to $1.19 per share, an increase of 15% to 20% over fiscal 2005 levels, excluding special items. Revenues for the fiscal year are expected to increase approximately 10% to 15% from fiscal 2005 levels to a range of $2.25bn to $2.35bn.
The company expects to incur $1.4m to $2.0m on a pre-tax basis, or $0.02 to $0.03 per share after tax, of the share-based compensation expense during the first quarter of the 2006 fiscal year.
United Natural Foods distributes more than 40,000 products to more than 20,000 customers nationwide. The company serves a wide variety of retail formats including conventional supermarket chains, natural product superstores, independent retail operators and the foodservice channel.
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