Dean Foods reports higher income in 2003

Dean Foods Co, the Dallas TX-based dairy processor, earned net income of $86.5 million for the fourth quarter of 2003, compared with $63.1 million in the prior-year fourth quarter. Net sales for the fourth quarter totaled $2.5 billion, an increase of 12% over the fourth quarter of 2002. Operating income in the fourth quarter totaled $183.7 million versus $172.2 million in fourth-quarter 2002.

For the year ended Dec 31, 2003, Dean's net sales rose 2% to $9.2 billion, compared with $9.0 billion during 2002. Net income for 2003 totaled $355.7 million, versus $175.4 million in 2002. Operating income for 2003 was $766.0 million, a 16% climb from $662.6 million in 2002.