December 1, 2006 |
Del Monte Foods Co. reported a 47% drop in quarterly profit Thursday as it was hit by higher costs for fish, peaches and tomatoes as well as expenses for integrating acquisitions. But earnings excluding one-time items exceeded expectations, helped by price increases and cost cuts. The San Francisco-based maker of canned fruit, StarKist tuna and Meow Mix cat food posted a profit of $23.2 million, or 11 cents a share, for the fiscal second quarter that ended Oct. 29. That was down from $43.
September 22, 1994 |
Del Monte Foods Co. said it scrapped its pending sale to an investor group led by Carlos Cabal Peniche, who is on the run from Mexican authorities. The group had pledged to buy San Francisco-based Del Monte for $277 million in cash and more than $630 million in debt. Under the terms of the sale agreement, Del Monte is keeping $30 million it had received through a letter of credit, because the transaction didn't close before Sept. 19.
March 20, 1998 |
Del Monte Foods Co., the world's largest producer of canned fruits and vegetables, will try to raise about $227 million through an initial stock offering, using the money to reduce its debt, according to filings Thursday with the Securities and Exchange Commission. As it moves toward becoming a public company, San Francisco-based Del Monte also plans to build on its well-known brand name, developing new products and pursuing acquisitions of other food brands, the filings said.
June 23, 2006 |
Del Monte Foods Co. said Thursday that fiscal fourth-quarter profit tripled, beating estimates, as price increases and cost cutting offset rising energy and packaging prices. The San Francisco company also raised its long-term sales and earnings targets, even as it planned to cut 85 sales and administrative jobs. Del Monte also said it would revamp its dry pet food manufacturing to lower delivery costs.
June 29, 2000
* FedEx Corp., the largest overnight delivery company, said its fiscal fourth-quarter profit rose 11%, more than forecast, on a rebound in U.S. shipments. Net income rose to $245 million, or 85 cents a share, in the quarter ended May 31, from $221 million, or 73 cents, a year earlier. Revenue climbed 11% to $4.85 billion from $4.38 billion. FedEx was forecast to earn 81 cents, the average estimate of analysts polled by First Call/Thomson Financial. Shares of Memphis, Tenn.
April 8, 2013 |
Major baby-food makers such as Dole Food Co., Del Monte Foods Co. and Nestle's Gerber business are going to court Monday to determine whether they need to warn consumers of certain lead levels in their products. In a 2011 lawsuit, the Environmental Law Foundation alleged that some of the companies' foods and juices -- which included ingredients such as carrots, peaches, pears and sweet potatoes -- contained enough lead to warrant a consumer caution label under California's Proposition 65 toxins warning law. A non-jury trial in the case is set to begin Monday in state Superior Court in Oakland.