Double-digit sales growth for Dreyer's brands
Nov 10, 2004 11:14 AM, from staff and wire reports
Dreyer's Grand Ice Cream Holdings Inc announced results for the quarter ended Sept 25, 2004.
Net sales of the company brands increased $62,873,000, or 18%, to $410,412,000 for the third quarter of 2004. The increase in company brand net sales was offset by increased promotional expenses in the quarter and the termination of a joint venture which dropped net sales by $11,976,000.
Net sales of partner brands, products manufactured or distributed for other companies, decreased $91,248,000, or 63%, to $53,819,000 for the third quarter of 2004. The decrease was driven mainly by a $69,658,000 reduction in net sales after the termination of certain distribution agreements resulting from the Dreyer's Nestle Transaction and the reduction in partner brand net sales following the classification of Silhouette's branded products as company brands.
Total net revenues fell $41,216,000, or 8%, to $473,677,000 for the third quarter of 2004 from $514,893,000 for the third quarter of 2003.
