Net income for the third quarter totaled $49.7 million, compared with $37.8 million in the prior year's third quarter, an increase of 32%. Solid operating income growth at Fresh Dairy Direct and WhiteWave-Morningstar and lower interest expense offset increases in Corporate and Other expenses to drive 43% growth in adjusted net income for the third quarter to $62.2 million, up from $43.5 million in the third quarter of 2008. Due to lower average debt balances, interest expense in the quarter totaled $59.5 million, compared to $74.7 million in the third quarter of 2008.
Monday, November 2, 2009
Dean Foods 3rd Qtr