Dean Surpasses $10 Billion in Sales, But Earnings are Lower
Dean Foods Co. reported lower earnings for 2004, although sales were on the rise. Executives said volatile raw milk prices caused the Dairy Group, which accounts for 80% of Dean's business to underperform. They also pointed to stronger fourth quarter performance as a sign of good things to come.
DALLAS-Dean Foods Co. reported lower earnings for 2004, although sales were on the rise. Executives said volatile raw milk prices caused the Dairy Group, which accounts for 80% of Dean's business to underperform. They also pointed to stronger fourth quarter performance as a sign of good things to come.
"We are encouraged by our performance in the fourth quarter," said Gregg Engles, chairman and chief executive officer. "We delivered 14% adjusted earnings per share growth for the quarter and enter 2005 with significant momentum."