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Dean Foods profit misses consensus by 17.9% in Q4

Dean Foods Co. said its normalized net income for the fourth quarter amounted to 28 cents per share, compared with the S&P Capital IQ consensus estimate of 34 cents per share.

EPS increased year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $26.0 million, a gain from $4.2 million in the year-earlier period.

The normalized profit margin climbed to 1.3% from 0.2% in the year-earlier period.

Total revenue fell 15.6% on an annual basis to $2.02 billion from $2.40 billion, and total operating expenses decreased 17.1% year over year to $1.97 billion from $2.37 billion.

Reported net income rose from the prior-year period to $18.8 million, or 20 cents per share, from $5.6 million, or 6 cents per share.

For the year, the company's normalized net income totaled $1.07 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.22.

EPS was a loss of 19 cents in the prior year.

Normalized net income was $100.0 million, compared with a loss of $17.6 million in the prior year.

Full-year total revenue decreased 14.5% from the prior-year period to $8.12 billion from $9.50 billion, and total operating expenses declined 16.6% on an annual basis to $7.90 billion from $9.47 billion.

The company said reported net income came to a loss of $8.4 million, or a loss of 9 cents per share, in the full year, compared with a loss of $20.7 million, or a loss of 22 cents per share, the prior year.