Del Monte Foods Company has reported results for fiscal 2008 fourth quarter and the full year.
Highlights include:
*Fourth quarter net sales growth of 11.1% and diluted EPS from continuing operations of $0.25 (includes $0.04 for transformation) compared to $0.18 in Q4F07 (which included $0.04 for transformation and integration).
*Reported full year 2008 net sales growth of 9.4% and diluted EPS from continuing operations of $0.66 (includes $0.08 for transformation) compared to $0.55 in F07 (which included $0.19 for transformation, integration and purchase accounting).
The company expects net sales growth of 5% to 7% over F08 sales of $3,736.8 million.
However, the company expects F09 EPS from continuing operations of $0.58-$0.62 compared to F08 of $0.66 (which included $0.08 for transformation), reflecting expected low double-digit cost escalation driven primarily by higher energy and commodity costs.
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