SunOpta Announces 1Q Results
SunOpta Inc. (NASDAQ:STKL; TSX:SOY) has announced results for the three months ended March 31, 2006. The Company achieved record revenues for the three months ended March 31, 2006, realizing its 34th consecutive quarter of increased revenue growth versus the same quarter in the previous year. All amounts are expressed in U.S. dollars. Revenues in the quarter increased by 54.6% to $133,312,000 as compared to $86,223,000 in the first quarter of the prior year, led by a 52.5% increase in revenues within the Company’s vertically integrated natural and organic food operations. The Company’s revenue growth in the quarter reflects an internal growth rate of 18.1%, and growth via acquisitions of 36.5%. Operating earnings for the quarter increased by 83.9% to $6,031,000 or 4.5% of net revenue as compared to $3,280,000 or 3.8% of net revenue in the previous year, driven by a 104% increase in operating earnings within the SunOpta Food Group. Net earnings in the quarter were $3,012,000 or $0.053 per diluted common share as compared to $6,605,000 or $0.116 per diluted common share in the prior year. Excluding a net unusual gain realized in the first quarter of 2005 related to the initial public offering of Opta Minerals Inc., […]