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Dean Foods Turns To Profit In Q3 - Quick Facts

Dean Foods Co. (DF) posted third-quarter net income attributable to the company of $36 million or $0.20 per share compared to net loss of $1.5 billion or $8.39 per share last year. Adjusted net income for the third quarter was $61 million or $0.33 per share.

Net sales for the quarter declined to $3.1 billion from $3.4 billion in the prior-year quarter, reflecting strong sales growth at WhiteWave-Alpro offset by the pass-through of lower commodity costs at Fresh Dairy Direct and Morningstar.

Analysts polled by Thomson Reuters expected the company to earn $0.28 per share on revenues of $3.23 billion for the quarter. Analysts' estimates typically exclude special items.

Gregg Engles, chairman of Dean Foods, stated, "Today we announced our fifth consecutive quarter of growth, with all of our operating segments continuing to perform well. Our strong performance this year has created the flexibility to pursue important strategic actions like the recently completed initial public offering of The WhiteWave Foods Company. It has also driven our expectations for further growth to close out the year."

Going ahead, the company expects fourth quarter 2012 adjusted earnings per share of between $0.27 and $0.32. Analysts expect the company to earn $0.27 per share for the quarter.

Also, the company lifted full year 2012 guidance for adjusted earnings of between $1.27 and $1.32 per share, driven by continued strong momentum across the business, offset by the expected impact of rising commodity costs, particularly at Fresh Dairy Direct. Analysts expect the company to report earnings of $1.21 per share for the year.

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