Dean Foods ends 2002 on a profitable note

Dean Foods Co announced its financial results for the quarter and year ended Dec 31, 2002. Fourth-quarter net sales totaled $2.2 billion, an increase of 39% over fourth-quarter 2001. Net income for the fourth quarter was $63.1 million, a 166% improvement over the $23.7 million in fourth-quarter 2001.

The company reported fourth quarter operating income of $172.2 million versus $107.6 million in fourth-quarter 2001, an advance of 60%.

Dean recorded net sales growth of 51% to $9.0 billion for the 12 months ended Dec 31, 2002, compared with $6.0 billion during 2001. Net income for 2002 totaled $175.4 million, compared with $109.8 million in 2001, an increase of 60% over the prior year. The company reported 2002 operating income of $662.6 million versus $385.1 million in 2001, a 72% rise.