Dr Pepper Snapple Group Inc. (DPS: Quote) said its fourth-quarter net income advanced to $170 million, or $0.81 per share, from $166 million, or $0.77 per share in the prior-year quarter.
Excluding unrealized commodity mark-to-market losses in both years and certain items affecting comparability in the earlier year period, core earnings per share amounted to $0.82 this quarter. On average, 13 analysts polled by Thomson Reuters expected earnings per share of $0.85 for the quarter. Analysts' estimates typically exclude one-time items.
Quarterly net sales reached $1.48 billion, up 2% from the year-ago quarter's $1.46 billion, while it missed consensus estimates of $1.49 billion. This sales growth reflected favorable price/mix, partially offset by a 1% decline in sales volumes. Foreign currency added nearly 1 percentage point to net sales growth.
Further, the board declared a quarterly dividend of $0.38 per share, a 12% increase in the dividend rate, payable in U.S. dollars on April 5, 2013, to shareholders of record as of close of business on March 15, 2013.
For 2013, the company expects reported net sales growth of around 3% and earnings per share in the range of $3.04 to $3.12, excluding the impact of commodity mark-to-market gains and losses, whereas 15 analysts project full-year earnings of $3.20 per share. Also, Dr Pepper Snapple anticipates that capital spending would be nearly 3.5% of net sales.
by RTT Staff Writer
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