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WhiteWave Foods Reports Strong Third Quarter 2012 Results

For the Three Months Ended September 30, 2012

 

GAAP Q3QTD 2012

 

Pro formaadjustments

    Pro forma  

Additionaladjustments

   

Pro FormaAdjusted Q3QTD 2012

 
(Dollars in Thousands, Except Share and Per Share Data)
 
Total net sales $ 574,853 $ 6,561 (a) $ 581,414 $ (644 ) (e) $ 580,770
Cost of sales   370,215     3,421   (a)   373,636     (4,533 ) (e)   369,103  
Gross profit 204,638 3,140 207,778 3,889 211,667
Related party license income 10,727 (10,727 ) (b) - - -
Operating costs and expenses:
Selling and distribution 125,551 - 125,551 (434 ) (e) 125,117
General and administrative   46,456     (5,545 ) (c)   40,911     773   (f)   41,684  
Total operating costs and expenses   172,007     (5,545 )   166,462     339     166,801  
Operating income 43,358 (2,042 ) 41,316 3,550 44,866
Other expense:
Interest expense 990 5,010 (d) 6,000 - (g) 6,000
Other expense, net   97     -     97     -     97  
Total other expense   1,087     5,010     6,097     -     6,097  

Income from continuing operations before income taxes

42,271 (7,052 ) 35,219 3,550 38,769
Income tax expense   15,979     (2,469 ) (h)   13,510     (1,700 ) (h)   11,810  
Income from continuing operations $ 26,292   $ (4,583 ) $ 21,709   $ 5,250   $ 26,959  
 
Earnings per Share, Basic and Diluted:
Basic $ 0.16 (i)
Diluted $ 0.16 (i)
 
Weighted Average Shares Outstanding, Basic and Diluted:
Basic 173,000,000
Diluted 173,655,000

* See notes to Earnings Release Tables

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