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Farmer Bros. Reports Net Loss Per Share Of $(0.44) For Third Fiscal Quarter 2010

Farmer Bros. Co. (NASDAQ: FARM) today reported unaudited results for its third fiscal quarter and nine months ended Mar. 31, 2010.
        (millions, except per share data)   Third Quarter   First Nine Months
Fiscal 2010   Fiscal 2009 Fiscal 2010   Fiscal 2009
Net sales $ 111.0 $ 85.6 $ 343.4 $ 228.7
Net loss $ (6.6 ) $ (1.4 ) $ (3.0 ) $ (7.6 )
Basic and diluted net loss per share $ (0.44 ) $ (0.10 ) $ (0.20 ) $ (0.53 )

Net sales increased 29.7%, or $25.4 million, to $111.0 million in the third fiscal quarter compared with last year's third fiscal quarter. For the first nine months of fiscal 2010, net sales increased 50.2%, or $114.7 million, to $343.4 million. These increases were primarily driven by the addition of net sales from the Direct Store Delivery (“DSD”) Coffee Business acquired from Sara Lee Corporation as of Feb. 28, 2009, during last year’s third fiscal quarter.

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