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WhiteWave Foods Reports Strong Third Quarter 2012 Results

For the Three Months Ended September 30, 2011

 

GAAP Q3QTD 2011

 

Pro formaadjustments

    Pro forma  

Additionaladjustments

   

Pro FormaAdjusted Q3QTD 2011

 
(Dollars in Thousands, Except Share and Per Share Data)
 
Total net sales $ 509,570 $ 5,734 (a) $ 515,304 $ (1,160 ) (e) $ 514,144
Cost of sales   337,018     2,362   (a)   339,380     (4,784 ) (e)   334,596  
Gross profit 172,552 3,372 175,924 3,624 179,548
Related party license income 11,129 (11,129 ) (b) - - -
Operating costs and expenses:
Selling and distribution 103,881 - 103,881 (427 ) (e) 103,454
General and administrative   31,808     2,455   (c)   34,263     5,321   (f)   39,584  

Total operating costs and expenses

  135,689     2,455     138,144     4,894     143,038  
Operating income 47,992 (10,212 ) 37,780 (1,270 ) 36,510
Other expense:
Interest expense 2,075 3,676 (d) 5,751 249 (g) 6,000
Other expense, net   600     -     600     -     600  
Total other expense   2,675     3,676     6,351     249     6,600  

Income from continuing operations before income taxes

45,317 (13,888 ) 31,429 (1,519 ) 29,910
Income tax expense   12,180     (4,861 ) (h)   7,319     2,064   (h)   9,383  
Income from continuing operations $ 33,137   $ (9,027 ) $ 24,110   $ (3,583 ) $ 20,527  
 
Earnings per Share, Basic and Diluted:
Basic $ 0.12 (i)
Diluted $ 0.12 (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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