UNFI Reports Second Quarter Earnings
Second Quarter Highlights
- Net sales increased 2.0% to $847.6 million compared to second quarter 2008
- Net sales increased 4.5%, excluding the impact of UNFI Specialty
- Net income totaled $13.6 million
February 24, 2009: UNFI reported net sales for the second quarter of fiscal 2009, ended January 31, 2009, of $847.6 million, an increase of $16.9 million, or 2.0%, from net sales of $830.7 million recorded in the second quarter of fiscal 2008. Excluding the impact in both periods of the UNFI Specialty division, which the company acquired in the second quarter of fiscal 2008, net sales increased by approximately $34.0 million, or 4.5%, to $792.2 million.
"Our results in the second quarter demonstrate that UNFI is well positioned to navigate through a challenging environment. Lower fuel costs, expense control and continuing integration of our Specialty business helped us deliver an increase of over 50% in net earnings" said Steven Spinner, President and Chief Executive Officer. "While our sales growth moderated in comparison to the prior quarter, our growth excluding UNFI Specialty was 4.5%, highlighting a continued demand for our products."
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