September 1, 2006 |
Del Monte Foods Co. said Thursday that its fiscal first-quarter profit fell 62% and warned that the current quarter's profit would fall as low as 5 cents a share because of costs to integrate acquisitions. San Francisco-based Del Monte said net income in the quarter ended July 30 fell to $6.2 million, or 3 cents a share, from $16.2 million, or 8 cents, a year earlier. Revenue rose 9.3% to $674.1 million.
January 26, 2005 |
A U.S. judge ruled that Del Monte Foods Co.'s Pounce Purr-fections, Snausages Scooby Snack Stuffers and Nature's Recipe treats infringed a Mars Inc. patent for pet treats with soft centers. U.S. District Judge R. Gary Klausner in Los Angeles granted Mars' motion for summary judgment on the patent infringement claim. He ordered the case to proceed to jury trial next month to determine damages. Mars sued in 2001 seeking unspecified damages and to block sales of H.J. Heinz Co.'
March 5, 2004 |
Morris the cat is about to get another life. His owner, Del Monte Foods Co., said Thursday that it would resurrect the finicky feline and make him the top cat in a new advertising campaign for its 9Lives brand. Morris hasn't been seen much for 14 years -- that's about 70 years if you're a cat -- and Del Monte hopes his comeback will jump-start sales. Even though 9Lives is the No. 2 brand of canned cat food, it trails far behind Nestle's Friskies, which controls nearly half the market.
September 3, 2004 |
Del Monte Foods Co.'s profit tumbled 41% in its fiscal first quarter, hit by the cost of integrating brands acquired from H.J. Heinz Co. in late 2002, as well as higher commodity costs and marketing expenses. The San Francisco producer of such brands as Kibbles 'n Bits pet food and StarKist tuna said Thursday that it had net income of $8.5 million, or 4 cents a share, for the period ended Aug. 1, down from $14.3 million, or 7 cents, a year earlier.
November 23, 2002 |
H.J. Heinz Co. said a plan to spin off brands such as StarKist Tuna and 9-Lives cat food to Del Monte Foods will be tax-free to the companies and their shareholders and ready for the shareholders' vote Dec. 19. The Internal Revenue Service's decision capped a regulatory review that was the final hurdle for the companies to complete the estimated $2.5-billion deal, which includes transferring $1.1 billion in debt to Del Monte. Heinz shares fell 13 cents to $34.
September 26, 1989 |
Food and tobacco giant RJR Nabisco Inc. took a big bite out of its debt troubles by selling its Del Monte processed foods business to an investor group headed by Merrill Lynch & Co. for $1.475 billion in cash, company officials said Monday. The Del Monte sale is part of a continuing program to cut the enormous debt that resulted from Kohlberg Kravis Roberts & Co.'s $25-billion leveraged buyout of the company early this year.
June 28, 1994 |
An investor group headed by Mexican billionaire Carlos Cabal Peniche has agreed to buy San Francisco-based Del Monte Foods Co. in a cash and debt transfer deal valued at close to $1 billion. The transaction announced Monday is the latest in a series of U.S. acquisitions by Mexican firms seeking a better vantage point for competing under the North American Free Trade Agreement.
December 3, 2004 |
Del Monte Foods Co. said Thursday that profit for its fiscal second quarter climbed 3.5%, as price increases helped offset inflationary pressures on costs. However, the San Francisco-based supplier of StarKist tuna and Kibbles 'n Bits pet food said higher energy and logistics costs would hurt earnings for the rest of the fiscal year. For the quarter ended Oct. 31, Del Monte had net income of $41.6 million, or 20 cents a share, up from $40.2 million, or 19 cents, a year earlier.
March 22, 2001 |
Del Monte Foods Co., the largest U.S. producer of canned fruits and vegetables, said fiscal third-quarter earnings will be lower than analysts' estimates because customers are reducing inventory levels. The San Francisco-based company said it expects earnings to range from 20 cents to 23 cents, compared with analyst estimates of 26 cents. It said net sales for the quarter will be 4% to 6% higher than the same period last year. Shares of Del Monte closed up 7 cents at $8.
March 12, 2003 |
Del Monte Foods Co., the largest U.S. processor of fruits and vegetables, Tuesday reported a sharp drop in quarterly earnings because of costs associated with adding certain brands from H.J. Heinz Co. The San Francisco-based company, which added Heinz's StarKist tuna, 9 Lives pet food and other brands last year, said it earned $24.4 million, or 13 cents a share, in the third quarter ended Jan. 29. That compares with earnings of $45.7 million, or 29 cents, in the same period last year.