Dairy processor Dean Foods reports 2015 profit despite net sales decline of $1.4 billion
The company bought an ice cream plant in Utah in the fourth quarter of 2015.
Dairy processor Dean Foods Co. reported today that adjusted net sales in 2015 fell to $8.1 billion from $9.5 billion in 2014. Net income was $115.3 million in 2015; the company posted a $13.1 million loss in 2014.
In a statement, Chief Executive Officer Gregg Tanner said, "The fourth quarter marked the successful completion of a very strong year. I'm very pleased with the sequential improvement we saw in our operational and financial performance from Q3 to Q4. I believe the 2015 financial results demonstrate that we're driving the right initiatives and agenda. As I look to the future, I believe our financial position and the momentum of our strong operating performance will allow us to continue to grow our business and create shareholder value."
Capital expenditures totaled $163 million for 2015, including approximately $13 million for the fourth quarter acquisition of an ice cream production facility in Utah.
Dean Foods’ brands include the national brands DairyPure (white milk) and TruMoo (flavored milk) and regional dairy brands such as Alta Dena, Berkeley Farms, Country Fresh, Dean's, Garelick Farms, Lehigh Valley Dairy Farms, Mayfield, McArthur, Meadow Gold, Oak Farms, T.G. Lee and Tuscan.
For more information about Dean Foods and its brands, visit www.deanfoods.com.