Performance Food Group nets nice numbers
Oct 28, 2003 12:00 PM, from staff and wire reportsPerformance Food Group, which distributes more than 61,000 food products, announced strong net sales and net earnings for the third quarter ended Sept 27, 2003. Sales for the third quarter of 2003 totaled $1.4 billion, up 19% from $1.2 billion in the year-earlier period. Net earnings for the quarter rose 35% to $21.6 million compared with $16.0 million a year ago.
Sales for the first nine months of 2003 amounted to $4.0 billion, up 24% from $3.2 billion in the year-earlier period. Net earnings for the same period climbed 26% to $62.0 million compared with $49.0 million a year ago.
C Michael Gray, president and chief executive officer, said, ÒThe third quarter represented the 35th consecutive quarter in which net sales and net earnings have increased compared with the prior-year period.Ó