HOUSTON, May 6, 2013 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) today announced financial results for its 13-week third fiscal quarter ended March 30, 2013.
Third Quarter Fiscal 2013 Highlights
- Sales were $10.9 billion, an increase of 4.0% from $10.5 billion in the third quarter of fiscal 2012.
- Operating income was $337 million, a decrease of 23.2%, compared to $439 million in last year's third quarter.
- Diluted earnings per share (EPS) were $0.34, which was 22.7% lower compared to $0.44 in last year's third quarter.
- After adjusting for certain items, which mainly related to a multi-employer pension plan (MEPP) withdrawal, adjusted 1 diluted EPS was $0.40. After further adjusting for business transformation expenses, to reflect the performance of the company's underlying business, adjusted diluted EPS was $0.49, compared to $0.50 in the prior year period.
Year-To-Date Fiscal 2013 Highlights
- Sales were $32.8 billion, an increase of 4.7% from $31.3 billion in the first 39 weeks of fiscal 2012.
- Operating income was $1.2 billion, a decrease of 12.8%, compared to the prior year period.
- Diluted EPS was $1.20, which was 13.0% lower compared to $1.38 in the prior year period.
- After adjusting for certain items, adjusted diluted EPS was $1.28. After further adjusting for business transformation expenses to reflect the performance of the company's underlying business, adjusted diluted EPS was $1.55 compared to $1.52 in the prior year period.
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