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August 14, 2006
Sysco Misses By a Penny a Share
From the AP:
Sysco Corp., the largest foodservice distributor in North America, said Monday its fiscal fourth-quarter profit dropped 11 percent, hurt in part by higher fuel costs and pension expenses.
Profit for the quarter ended July 1 fell to $254.1 million, or 41 cents per share, compared with a profit of $284.7 million, or 44 cents per share during the same period last year.
Revenue grew 7 percent to $8.51 billion, from $7.98 billion during the year-ago quarter.
Analysts predicted a profit of 42 cents on revenue of $8.63 billion, according to a Thomson Financial poll.
Fuel costs and pension expenses led to an 8 percent increase in total costs and expenses year over year.
For the full fiscal year, Sysco's profit fell 11 percent, to $855.3 million, or $1.36 per share, compared to $961.5 million, or $1.47 per share a year ago. Revenue climbed 8 percent to $32.63 billion, from $30.28 billion last year.
Posted by edelfenbein at August 14, 2006 9:54 AM
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