WhiteWave Foods Reports Strong Fourth Quarter And Full Year 2012 Results

The WhiteWave Foods Company (the “ Company”) (NYSE: WWAV) today reported strong results for the fourth quarter and full year ended December 31, 2012, driven by growth across all of the Company’s product categories.
         
Financial Summary:

Three Months Ended December 31,

Full Year Ended December 31,
In millions, except percentages and EPS 2012     2011     % Change 2012     2011     % Change
Total Net Sales
GAAP $608 $542 12% $2,289 $2,026 13%
Pro Forma Adjusted $609 $543 12% $2,306 $2,044 13%
 
Operating Income
GAAP $46 $49 (6%) $180 $176 3%
Pro Forma Adjusted $48 $41 17% $173 $142 22%
 
Income from Continuing Operations
GAAP $29 $31 (8%) $113 $114 (2%)
Pro Forma Adjusted $31 $23 34% $104 $80 31%
 
Diluted Earnings per Share (EPS)
GAAP $0.17 $0.21 (16%) $0.73 $0.76 (4%)
Pro Forma Adjusted $0.18 $0.13 34% $0.60 $0.46 31%
 
Diluted Shares Outstanding
GAAP 165 150 154 150
Pro Forma Adjusted 173 173 173 173
 

The Company reported fourth quarter 2012 pro forma adjusted diluted earnings per share of $0.18, a 34 percent increase compared to fourth quarter 2011 pro forma adjusted diluted earnings of $0.13 per share. For full year 2012, the Company reported pro forma adjusted diluted earnings per share of $0.60, representing a 31 percent increase compared to full year 2011 pro forma adjusted diluted earnings per share of $0.46.

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