Heinz Reports Double-Digit EPS Growth To $0.90 From Continuing Operations; Reaffirms Previously Announced Fiscal 2013 Full-Year Sales And Profit Outlook
(Totals may not add due to rounding)
| H.J. Heinz Company |
| Non-GAAP Performance Ratios |
Sales Variances
The following table illustrates the components of the change in net sales versus the prior year.
| Total Heinz (Continuing Operations) | 2006 (b)(d) | 2007 (b)(d) | 2008 (d) | Q109 (d) | Q209 (d) | Q309 (d) | Q409 (d) | 2009 | |||||||||||||||||||||||||
| Volume | 3.9 | % | 0.8 | % | 3.9 | % | 5.4 | % | (0.9 | )% | (6.2 | )% | (1.9 | )% | (1.2 | )% | |||||||||||||||||
| Price | (0.1 | )% | 2.2 | % | 3.5 | % | 5.3 | % | 7.2 | % | 8.1 | % | 7.6 | % | 7.2 | % | |||||||||||||||||
| Acquisition | 5.0 | % | 1.3 | % | 0.7 | % | 0.7 | % | 1.2 | % | 2.5 | % | 3.4 | % | 2.0 | % | |||||||||||||||||
| Divestiture | (1.2 | )% | (3.1 | )% | (0.8 | )% | — | (0.2 | )% | (0.1 | )% | (0.2 | )% | (0.2 | )% | ||||||||||||||||||
| Exchange | (1.4 | )% | 2.8 | % | 5.2 | % | 4.1 | % | (3.2 | )% | (11.3 | )% | (13.9 | )% | (6.6 | )% | |||||||||||||||||
| Total Change in Net Sales | 6.1 | % | 3.9 | % | 12.3 | % | 15.5 | % | 4.0 | % | (7.1 | )% | (5.0 | )% | 1.3 | % | |||||||||||||||||
| Total Organic Growth (a) | 3.8 | % | 3.0 | % | 7.4 | % | 10.7 | % | 6.3 | % | 1.9 | % | 5.7 | % | 6.0 | % | |||||||||||||||||
| Q110 (d) | Q210 (d) | Q310 (d) | Q410 (d) | 2010 | Q111 (d) | Q211 (d) | Q311 (d) | Q411 (d) | 2011 | ||||||||||||||||||||||||
| Volume | (3.9 | )% | (3.8 | )% | 1.2 | % | 1.6 | % | (1.3 | )% | 2.5 | % | 0.3 | % | 0.5 | % | (0.3 | )% | 1.0 | % | |||||||||||||
| Price | 6.0 | % | 4.6 | % | 1.8 | % | 1.0 | % | 3.4 | % | 1.1 | % | 0.6 | % | 1.2 | % | 1.9 | % | 1.2 | % | |||||||||||||
| Acquisition | 3.1 | % | 3.1 | % | 2.9 | % | 0.3 | % | 2.4 | % | 0.1 | % | 0.1 | % | 1.2 | % | 1.1 | % | 0.6 | % | |||||||||||||
| Divestiture | (0.2 | )% | — | — | — | (0.1 | )% | — | — | — | — | — | |||||||||||||||||||||
| Exchange | (9.0 | )% | (1.0 | )% | 6.9 | % | 5.5 | % | 0.5 | % | (2.1 | )% | (2.3 | )% | (1.4 | )% | 3.3 | % | (0.5 | )% | |||||||||||||
| Total Change in Net Sales | (4.0 | )% | 2.9 | % | 12.7 | % | 8.3 | % | 4.9 | % | 1.6 | % | (1.2 | )% | 1.5 | % | 6.0 | % | 2.2 | % | |||||||||||||
| Total Organic Growth (a) | 2.1 | % | 0.8 | % | 3.0 | % | 2.6 | % | 2.1 | % | 3.6 | % | 0.9 | % | 1.7 | % | 1.6 | % | 2.2 | % | |||||||||||||
| Q112 | Q212 | Q312 | Q412 (c) | 2012 (c) | Q113 | Q213 | |||||||||||||||||||||||||||
| Volume | (0.6 | )% | (2.8 | )% | 0.5 | % | 1.5 | % | (0.3 | )% | 2.5 | % | 1.4 | % | |||||||||||||||||||
| Price | 3.7 | % | 4.4 | % | 4.2 | % | 3.0 | % | 3.8 | % | 2.3 | % | 1.9 | % | |||||||||||||||||||
| Acquisition | 4.7 | % | 5.0 | % | 3.7 | % | 3.1 | % | 4.1 | % | — | — | |||||||||||||||||||||
| Divestiture | — | (0.6 | )% | (0.7 | )% | (0.7 | )% | (0.5 | )% | (0.6 | )% | (0.4 | )% | ||||||||||||||||||||
| Exchange | 7.2 | % | 2.4 | % | (0.4 | )% | (1.4 | )% | 1.8 | % | (5.6 | )% | (2.4 | )% | |||||||||||||||||||
| Total Change in Net Sales | 15.0 | % | 8.4 | % | 7.3 | % | 5.5 | % | 8.9 | % | (1.5 | )% | 0.5 | % | |||||||||||||||||||
| Total Organic Growth (a) | 3.1 | % | 1.6 | % | 4.7 | % | 4.5 | % | 3.5 | % | 4.8 | % | 3.3 | % | |||||||||||||||||||
____________________________________________________(a) Organic sales growth is a non-GAAP measure that is defined as volume plus price or total sales growth excluding the impact of foreign currency translation rates and acquisitions/divestitures.(b) Fiscal 2007 had one less week than Fiscal 2006.(c) Fiscal 2012 had 2 extra business days than Fiscal 2011.(d) Amounts have not been restated for the disposal of the U.S. Foodservice frozen desserts business, which was reported in discontinued operations in Fiscal 2013.
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