SunOpta income up in quarter
August 07, 2009
by FoodBusinessNews.net Staff
TORONTO — For the second quarter ended June 30, SunOpta, Inc. had earnings of $1,780,000, equal to 3c per share on the common stock, up significantly from $719,000, or 1c per share, during the same quarter of the previous year.
Revenue for the quarter was $257,725,000, down 12% from $291,945,000 during the same quarter of the previous year.
"We are pleased with the improvement in our earnings results for the second quarter combined with continued improvement in cash generated from operations," said Steve Bromley, president and chief executive officer. "The company’s primary focus remains the improvement of operating margins and return on assets employed, to be realized through a combination of aggressive working capital management and continuous improvement initiatives. While we are seeing some improvement in market conditions, we remain focused on our cost control, efficiency, product development and asset utilization initiatives and believe that these will position the company for improved returns as we move forward. We remain confident that our core food operations are well positioned as interest in health and wellness continues to gain attention around the globe."
For the six months ended June 30, the company had income of $123,000, down 94% from $2,205,000, or 3c per share, during the same period of the previous year. Revenue for the period was $489,799,000, down 6% from $522,389,000 during the same period of the previous year.