Food Business News - June 21, 2011 - (Page 19)

Diamond Foods returns to profitability in third quarter for the quarter were $222,991,000, up 61% from $138,734,000 during the same quarter of the previous year. “Our business performed well during the quarter, including double-digit organic growth in our snack portfolio,” said Michael ident J. Mendes, chairman, president and chief executive officer. “Based on our strong overall performance and effective integration of Kettle, we have increased our financial guidance for the year. We’re off to a strong start in planning for the integration of Pringles, and we are encouraged by the prospects for the new combined entity.” s For the nine months y ended April 30, the company 0, had income of $41,667,000, 4% or $1.90 per share, up 114% share from $19,471,000, or $1.11 per share, during the same period of the previous year. Sales for the nine months were $733,149,000, up 46% from $503,544,000 during the same period of the previous year. “We continue to be focused on expanding the breadth and depth of our distribution and increasing the sales velocity of our snack portfolio,” said Mr. Mendes in a conference call with securities analysts on June 2. “We have expanded the distribution of Pop Secret in the mass channel, and are demo demonstrating high shelf efficiency for trad traditional retailers with Pop Secret rep representing four of the top six selling ite items in U.S. gro grocery. Pop Secret K Kernels, which were la launched last year, c continue to grow a and have reached an 11% share of the popcorn kernel market.” The company also raised its fulls year guidance to net sales in the range of $943 million to $953 million, up from the previously stated $925 million to $950 million, and e.p.s. of $2.48 to $2.52 compared with $2.45 to $2.51 previously stated. FBN SAN FRANCISCO — Boosted by strong B t d b t sales and the integration of the Kettle acquisition, Diamond Foods returned to profitability during the third quarter. For the quarter ended April 30, the company had income of $7,733,000, equal to 35c per share on the common stock, which compared with a loss of $4,273,000 during the same quarter of the previous year. Sales June 21, 2011 FOODBUSINESS NEWS ® 19

Table of Contents for the Digital Edition of Food Business News - June 21, 2011

Food Business News - June 21, 2011
C.D.C. report fi nds increase in salmonella infections
General Mills sees ‘robust’ growth opportunities in global yogurt category
Following Jimmy
Web Contents
Editorial - German E.coli outbreak underscores need to fund F.S.M.A.
ConAgra acquires Marie Callender’s trademarks
Kraft investing to eradicate malnutrition
Perkins & Marie Callender’s fi les for bankruptcy
Snack food sales reach $64 billion in 2010, may top $77 billion by 2015
Recession seen triggering sharp drop in food product introductions
Cargill opens Latin American innovation center
John Bilbrey to helm at Hershey
ICL Performance to acquire Cosmocel Quimica
Sugar bull
Smithfield terminates Campofrio bid
Omega-3 food, beverage market grows 11%
Roark Capital ups presence in food industry
Calavo earnings decline due to higher costs
Mountaire Farms acquiring bankrupt poultry company
Diamond Foods returns to profi tability in third quarter
Nestle water efforts recognized
C.D.C. report points to increase in salmonella infections
Consumers await full impact of higher food prices
A difficult disappearing act
Innovation honored by the I.F.T.
Mintel: Functional foods ‘on life support’
Allergen labeling guidance needed
Creating a defi nition of sustainable nutrition
German E. coli outbreak may lead to changes
Chronic inflammation: The next opportunity?
ConAgra Mills unveils food safety system for flour
Finding fiber everywhere
Spicy fl avors moving beyond heat
Dairy Business News
Commission clears Lactalis acquisition of Parmalat
New texture system replaces milk fat in dairy products
Researchers target sodium redution in cheese
General Mills sees ‘robust’ growth opportunities in global yogurt category
Saputo fiscal year earnings rise 18%
New Danisco system targets artisan ice cream
Researchers target sodium reduction in cheese
Single-serve licensing
Quiznos adds three concepts to menu
Flax USA introduces Flaxmilk
Johnsonville Sausage adds chicken varieties
General Mills adds brownies to Fiber One line
Farley’s & Sathers updates Tree Top line
Ingredient Market Trends
Senate vote to end ethanol support seen as symbolic
Ingredient Markets
New container may hold two compatible products
Solbar names president of U.S. business
Sensient launches naturally-sourced colors in dry state
Comax develops fl avors for energy drinks
Puratos launches bake-stable chocolate fi llings
DSM completes U.S. innovation center
Sea salt assists in sodium reduction
Ad Index
Food Business in the News

Food Business News - June 21, 2011