DFA net income rose $38 million in 2016; sales dip 2% to $13.5 billion
The earnings were helped by the acquisition of the remaining 50% equity interest in DairiConcepts, a manufacturer of cheese, dairy ingredients and dairy flavor systems.
Dairy Farmers of America (DFA) officials reported net income of $131.8 million, compared to $94.1 million of net income for 2015. The increase was attributable to higher sales volumes, overall operating efficiencies and lower commodity input costs.
DFA announced the results today at its annual meeting.