Del Monte income down 52% in year
June 17, 2011
SAN FRANCISCO — Unit volume declines in the Consumer Products segment as well as increased promotional spending helped contributed to a 52% decline in net income at Del Monte Corp. for the full year.
For the full-year ended May 1, the company had income of $118.3 million, which compared with income of $244.3 million during the previous year. Sales during the year were $3,666.1 million, down 2% from $3,739.8 million during fiscal 2010.
For the fourth quarter ended May 1, the company sustained a loss of $109.3 million, which compared with income of $63.7 million during the same quarter of the previous year. Sales for the quarter were $951.2 million, down slightly from $954 million during the same quarter of the previous year.