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SunOpta Announces Record 2012 Results

Stocks in this article: STKL

TORONTO, March 5, 2013 (GLOBE NEWSWIRE) -- SunOpta Inc. ("SunOpta" or the "Company") (Nasdaq:STKL) (TSX:SOY), a leading global company focused on natural, organic and specialty foods, today announced financial results for the year ended December 29, 2012. All amounts are expressed in U.S. dollars and results are reported in accordance with U.S. GAAP, except where specifically noted.

Fourth Quarter 2012 Highlights:

  • Record revenues of $270.1 million, an increase of approximately 12% versus 2011
  • Operating income of $7.2 million, an increase of 46% versus 2011
  • Record fourth quarter earnings of $4.4 million versus a loss of $7.6 million in 2011
  • Earnings per diluted common share of $0.07 versus a loss of $0.11 in 2011

Fiscal 2012 Highlights:

  • Record revenues of $1.091 billion, an increase of approximately 7% versus 2011
  • Operating income of $47.0 million, an increase of 39% versus 2011
  • Record earnings of $24.2 million, an increase of 357% versus 2011
  • Earnings per diluted common share increased to a record $0.36 versus $0.08 in 2011

"We are pleased with our fiscal 2012 financial results which reflect both record revenues and earnings. We continue to execute on our core strategies focused on growing our value-added packaged foods and ingredients portfolio, and leveraging our integrated platform," commented Steve Bromley, Chief Executive Officer. "While our results improved significantly in fiscal 2012, we will continue to develop our global integrated natural and organic foods platform in support of our established operating targets. We continue to believe that healthy eating and healthy living are key long-term global trends and further believe that we are well positioned to be a key player in these markets."

Fourth Quarter 2012 Results

Revenues for the fourth quarter increased approximately 12% to $270.1 million as compared to $242.3 million in the fourth quarter of 2011. Excluding the impact of changes including foreign exchange rates, commodity-related pricing, acquisitions and rationalized product lines, revenues increased approximately 6% on a consolidated basis versus the prior year. The increase in consolidated revenues in the fourth quarter was driven by strong growth across integrated packaged food product categories within SunOpta Foods, particularly in the areas of packaged aseptic non-dairy beverages and pouch products, as well as higher sales within Opta Minerals Inc. as a result of recent acquisitions.

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