Performance Food Group, which distributes more than 64,000 food products, has announced results for the first quarter ended April 3, 2004.
Sales for the first quarter of 2004 grew to $1.5 billion, up 15% from $1.3 billion in the year-earlier period. Net earnings declined 54% to $7.5 million.
Bob Sledd, chairman and chief executive officer, said, “The first-quarter results represent the 37th consecutive period in which net sales have increased compared with the prior-year period. Our first-quarter sales growth of 15% consisted solely of internal growth in each of our business segments. We remain focused on driving improvements in our operations to address the challenges we faced in 2003.”