Food Industry
Industry: Email Alert RSS FeedFlowers Q4 and year-end results - Flowers Industries Inc - Brief Article - Statistical Data Included
Eurofood, Feb 13, 2001
Flowers Industries, the US-based food concern, and majority stakeholder in Keebler, has reported its Q4 and year-end results. Keebler agreed to sell its interest in Keebler, the cookie and cracker manufacturer back in October 2000.
Sales at Flowers for the fourth quarter were US $1.06bn ([euro]1.14bn), an increase of 4.8% compared to the same trading period a year ago when the firm turned over some US$1.01bn. Net income in the quarter stood at US$10.28m. For the year as a whole, Flowers said sales for fiscal 2000 were US$4.8bn, up 3.3% from US$4.24bn in 1999. Net income for the year was US$45.53m, compared to US$7.29m last year. Flowers Bakery recorded higher sales but a lower operating income. Sales increased 5.7%, but operating income fell by 6.1%.
Most RecentFood Articles
Chairman of the board, Amos R. McMullian said, "Higher operating costs severely impacted on Flowers Bakeries' results for the year, especially in the fourth quarter."
LOSS AT MRS SMITH
Another of Flowers' baking businesses, Mrs Smith Bakeries reported external sales for 2000 of US$603.75m, a slight decrease of 0.5% on last year's US$606.54%. Losses at Mrs Smith for the year were US$28.03m compared to US$53.26m. Keebler's performance for the year and quarter can be seen in the article on Keebler, (see Eurofood, this page).
SPIN-OFF NEW COMPANY
Following the agreement to sell Keebler to compatriot cereal maker Kellogg, Flowers announced in October that it would spin off and create a new company comprising Flowers Bakery and Mrs Smith Bakeries. The new firm will be called Flowers Foods. McMullian said, "We are looking forward to the culmination of the Keebler transaction. After the transaction, our focus will be on operating Flowers Foods' business units and creating long-term value for our shareholders."
Brought to you by CBS MoneyWatch.com
- Best- and Worst-Paid College Degrees
- 6 Things You Should Never Do on Twitter or Facebook
- How Much Sleep Do You Really Need?
- 6 Big Myths about Gas Mileage
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- LIFO vs. FIFO: a return to the basics


