SunOpta returns to profitability in year

by Staff
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TORONTO — SunOpta, Inc. returned to profitability during the year ended Jan. 1.

For the year the company had earnings of $61,066,000, equal to 94c per share on the common stock, which compared with a loss of $6,763,000 during the previous year. Revenue for the year was $898,931,000, up 10% from $819,040,000 during the previous year.

“We are very pleased with our fourth quarter and fiscal 2010 results,” said Steve Bromley, president and chief executive officer. “The fiscal 2010 results represent record net earnings and record operating income for the company. Our earnings from operations have shown significant improvement and reflect our continued efforts to improve returns in our core operating segments. While we are pleased with the improvements realized, we believe there is further opportunity, and we are working to realize continued improvements in support of our goal of 8% earnings from operations. Over the course of 2010 we completed a number of strategic transactions, acquiring two core businesses and disposing of two non-core businesses, all in support of our mission to build a focused global leader in natural and organic foods. We remain confident that our focus on margin improvement and asset management, when combined with strong consumer interest in health and wellness, positions our company for long-term success.”

For the fourth quarter ended Jan. 1, the company had earnings of $1,920,000, or 3c per share, which compared with a loss of $2,214,000 during the same quarter of the previous year. Revenue for the quarter was $230,392,000, up 16% from $199,268,000 during the same quarter of the previous year.

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