Flowers Foods Reports Flat Q4 EPS - Quick Facts

(RTTNews) - Flowers Foods, Inc. (FLO), a producer of fresh packaged bakery foods, Thursday said fourth-quarter net income was $38.52 million, compared to $38.57 million last year. Earnings per share were flat with last year at $0.18. On average, 8 analysts polled by Thomson Reuters expected earnings of $0.19 per share for the quarter. Analysts' estimates typically exclude special items.

Sales increased to $843.55 million from $749.44 million in the prior year. Wall Street expected revenues of $884.01 million.

The company attributed the 12.6 percent sales growth to increased volume of 6.3 percent, positive net price/mix of 3.6 percent and an acquisition contribution of 2.7 percent.

For 2014, the company expects earnings per share of $0.98 to $1.05 and sales of $3.976 billion to $4.126 billion. Analysts expect earnings of $1.08 per share on revenues of $4.12 billion.

Allen Shiver, CEO, said, "In the fourth quarter, we achieved improved production efficiencies compared to the third quarter, performed well in our new markets, and continued to integrate our recent acquisitions.''