This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Diamond Foods Reports Third Quarter Fiscal 2014 Financial Results

SAN FRANCISCO, June 5, 2014 (GLOBE NEWSWIRE) -- Diamond Foods, Inc. (Nasdaq:DMND) ("Diamond") today reported financial results for its fiscal 2014 third quarter and nine months ended April 30, 2014.

Third Quarter Fiscal 2014 Highlights
  • Net sales were $190.9 million, up 3.2% year-over-year
  • Snacks segment sales increased 9.6% to $114.3 million and Nuts segment sales decreased 5.0% to $76.6 million
  • Gross margin was 23.6% compared to 23.4%
  • GAAP loss per share was $3.63 primarily attributable to the extinguishment of the Oaktree debt; non-GAAP earnings per share (EPS) was $0.11
  • Adjusted EBITDA increased 1.5% to $23.5 million

Year-to-Date Fiscal 2014 Highlights
  • Net sales decreased 2.7% to $646.1 million
  • Snacks segment sales increased 7.1% to $343.6 million and Nuts segment sales decreased 11.9% to $302.5 million
  • Gross margin was 24.6% compared to 23.0%
  • GAAP loss per share was $6.69; non-GAAP EPS was $0.44
  • Adjusted EBITDA increased 5.3% to $81.2 million

(All comparisons above are to the third quarter and first nine months of fiscal year 2013. Non-GAAP financial measures are reconciled in the tables below.)

"We are very pleased with the overall performance of our Snacks segment in the third quarter, as we continued to deliver solid year-over-year sales growth and gross margin expansion," said Brian J. Driscoll, President and CEO. "While these results reflect strong progress against our overall turnaround plan, in the Nuts segment a walnut cost increase this quarter impacted our results by $2.2 million."

Third Quarter Fiscal 2014

Consolidated net sales during the quarter increased 3.2%, to $190.9 million, compared to the same quarter of the prior year. Gross profit was $45.1 million, or 23.6% of net sales, for the third quarter of fiscal 2014, compared to $43.4 million, or 23.4% of net sales, for the same quarter in the prior year.

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs