Dean's First Quarter Sales up 12%
Dean Foods Co. earned net income totaling $66.2 million for the first quarter of 2005, compared with $69.2 million in the 2004 first quarter.
Net sales for the 2005 first quarter totaled $2.7 billion, an increase of 12% over the first quarter of 2004, mainly due to higher selling prices in the Dairy Group resulting from the pass-through of higher raw milk costs and continued strong volume growth in the Dairy Group's fluid milk operations and at WhiteWave Foods.
Consolidated operating income in the first quarter totaled $150.1 million versus $152.4 million. Gregg Engles, chairman and CEO, said, "Our Dairy Group performed very well, exceeding our expectations, and we continued to see strong growth in demand for our national brands. Also, our strategic initiatives to consolidate our branded businesses and spin off our Specialty Foods Group are progressing as expected. We believe this quarter marks the beginning of what should be a year of significant progress."