WhiteWave Foods Reports Strong Fourth Quarter And Full Year 2013 Results

The WhiteWave Foods Company (the “ Company”) (NYSE: WWAV) today reported strong results for the fourth quarter and full year ended December 31, 2013, driven by growth across all of the Company’s platforms.
     
Financial Summary: Three Months Ended December 31, Full Year Ended December 31,

In millions, except EPS
2013   2012   % Change 2013   2012   % Change
Total Net Sales
GAAP $679 $608 +12% $2,542 $2,289 +11%
Adjusted $679 $609 +11% $2,542 $2,306 +10%
Operating Income
GAAP $29 $46 -36% $155 $180 -14%
Adjusted $61 $48 +27% $209 $173 +21%
Net Income
GAAP $18 $29 -39% $97 $113 -14%
Adjusted $39 $31 +24% $129 $104 +24%
Diluted Earnings per Share (EPS)
GAAP $0.10 $0.17 -41% $0.56 $0.73 -23%
Adjusted $0.22 $0.18 +22% $0.74 $0.60 +23%
Diluted Shares Outstanding
GAAP 176 165 175 154
Adjusted 176 173 175 173
 

The Company reported fourth quarter 2013 adjusted diluted earnings per share of $0.22, a 22 percent increase compared to fourth quarter 2012. For full year 2013, the Company reported adjusted diluted earnings per share of $0.74, representing a 23 percent increase compared to full year 2012.

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