HOUSTON, Aug. 12, 2013 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) today announced financial results for its 13-week fourth fiscal quarter, and its 52-week fiscal year ended June 29, 2013.
Fourth Quarter Fiscal 2013 Highlights
- Sales were $11.6 billion, an increase of 5.0% from $11.0 billion in the fourth quarter of fiscal 2012.
- Operating income was $460 million, a decrease of 10.8%, compared to $515 million in last year's fourth quarter.
- Diluted earnings per share (EPS) were $0.47, which was 11.3% lower compared to $0.53 in last year's fourth quarter.
- After adjusting for certain items, which mainly related to restructuring charges, adjusted 1 diluted EPS was $0.50. After further adjusting for business transformation expenses, to reflect the performance of the company's underlying business, adjusted diluted EPS was $0.59, compared to $0.63 in the prior year period.
Fiscal 2013 Highlights
- Sales were $44.4 billion, an increase of 4.8% from $42.4 billion in fiscal 2012.
- Operating income was $1.7 billion, a decrease of 12.3%, compared to the prior year.
- Diluted EPS was $1.67, which was 12.1% lower compared to $1.90 in the prior year.
- After adjusting for certain items, which mainly related to a multi-employer pension plan (MEPP) withdrawal and restructuring charges, adjusted diluted EPS was $1.78. After further adjusting for business transformation expenses to reflect the performance of the company's underlying business, adjusted diluted EPS was $2.14, compared to $2.15 in the prior year.
- Cash flow from operations increased 7.6% to $1.5 billion in fiscal 2013 and free cash flow increased 62% to $1.0 billion.
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