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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV