WhiteWave's revenue up 15% for quarter
Net sales at Broomfield-based WhiteWave Foods Co. (NYSE: WWAV) rose to $575 million in the quarter ending Sept. 30, compared with $510 million for the same quarter a year earlier. At the same time, income declined 10 percent to $43 million from $48 million a year earlier, because of higher operating costs and expenses.
WhiteWave spun off from Dean Foods Co. (NYSE: DF) last month with a $391 million initial public offering. Company brands include Silk soy milk, Horizon Organic milk, International Delight creamers and Land O'Lakes dairy products.
"Consistent with WhiteWave-Alpro segment results reported by Dean Foods on Nov. 8 as part of its consolidated third-quarter financial results, WhiteWave Foods continued to build on its momentum in the third quarter, delivering strong growth across the business," Gregg Engles, chairman and chief executive, said in a press statement.
Alpro is a European brand owned by WhiteWave. Alpro's soy-based Fruity and Creamy yogurts are slated to roll out in select American grocer refrigerator cases at the end of December, Blaine McPeak, WhiteWave president, said in a Friday earnings call.
After WhiteWave's initial public offering, Dean Foods continues to own 86.7 percent of the company's stock and retains 98.5 percent of voting power. Boulder entrepreneur Steve Demos founded the company in Boulder in 1977. Dean Foods acquired the company in 2002.
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