Newsline: Earnings Reports Turn Gloomy
Dean Foods and Land O' Lakes also painted a less rosy picture in their recent earnings reports. Dean stockholders earned $0.49 per diluted share for the quarter ended Dec. 31 compared with $0.55 per diluted share in the fourth quarter of 2004. Net sales for the fourth quarter totaled $2.7 billion, an increase of 4% over the fourth quarter of 2004, due to strong sales growth at the Dairy Group and WhiteWave Foods.
Land O'Lakes reported $128.9 million in net earnings in 2005 on sales of $7.6 billion. Earnings jumped more than $100 million over 2004, but sales fell $100 million from 2004. The dairy foods division posted pre-tax earnings of just $400,000 on sales of $3.9 billion.