WhiteWave reports 12% revenue growth
Broomfield-based WhiteWave Foods Co. (NYSE: WWAV) said revenue was up from $543 million for the period ended Dec. 31, 2011. In the fourth quarter of 2012, the company also reported profit of $31 million, or 18 cents per share, a 34 percent increase from the $23 million, or 13 cents per share, reported in the same quarter in 2011.
The company's strong growth in the fourth quarter and throughout the year shows the power of its leading brands, which include Silk soy milk beverages, said Gregg Engles, the company's chief executive. The company also makes and sells Horizon Organic dairy products, International Delight brand creamers and Land O' Lakes brand products.
"We are at the heart of a broad and sustained movement towards nutritious, flavorful, convenient and responsibly produced food and beverages," Engles said in the earnings statement.
WhiteWave became a publicly traded company Oct. 26, although parent Dean Foods Co. in Dallas owns a majority stake. Dean Foods (NYSE: DF) plans to keep about a 20 percent stake in WhiteWave, after it spins off the rest of its financial interest in the company in May, according to the earnings statement.
Fourth-quarter operating results were softened somewhat by increases in marketing expenditures, as well as increases in distribution and warehousing costs as the company continued to grow, according to the earnings statement.
Boulder entrepreneur Steve Demos founded WhiteWave in Boulder in 1977. Dean Foods acquired the company in 2002. WhiteWave reported in December that it has about 1,730 employees, including about 465 in Broomfield.
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