Dean Foods Company earned $0.50 per diluted share for the full year 2010, as compared to $1.38 per diluted share for the full year 2009.
On an adjusted basis, the company earned $0.80 per diluted share for the full year 2010, compared to $1.59 for the full year 2009.
For the fourth quarter 2010, the company recorded a loss of $0.11 per diluted share, as compared to fourth quarter 2009 earnings of $0.27 per diluted share. The loss for the fourth quarter of 2010 includes a $20m charge (net of tax) associated with an agreement in a previously disclosed legal matter, a $10.8m write down of deferred tax assets, as well as $17m (net of tax) of restructuring charges, and other one time or non-recurring items.
On an adjusted basis, fourth quarter 2010 diluted earnings per share were $0.15, compared to $0.32 per diluted share earned in the prior year's fourth quarter.
Net income attributable to Dean Foods totalled $91m for the full year 2010, compared with $240m in the previous year. On an adjusted basis, net income for the full year 2010 totalled $147m, compared to $277m in 2009.
For the fourth quarter of 2010, the net loss attributable to Dean Foods totalled $21m, compared to net income of $50m in the prior year's fourth quarter. Adjusted net income for the fourth quarter was $27m, compared to adjusted net income of $59m in the fourth quarter of 2009.
Source: Dean Foods
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