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Monday, November 02, 2009
Dean Foods Revenue Drops 13.2%
FOXBusiness
Dean Foods (DF) reported a rise in third-quarter profit of 32% on cost cuts. Profits for the year were increased by 3 cents to $1.63 and for the fourth quarter, 36 cents per share were predicted.
However, the largest producer of dairy in the U.S. by revenue predicted that fourth-quarter earnings may weaken due to higher milk costs. Thomson Reuters analysts have predicted 39 cents earned in the fourth.
Earnings totaled $49.7 million, or 27 cents a share, up from $37.8 million, or 24 cents in the year prior. Revenue dropped 13.2% to hit $2.77 billion.
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