Dean Foods Co. announced that the company earned $8.58 per diluted share for the full year 2013, as compared to $1.70 per diluted share for the full year 2012. Full year 2013 reported results include the gain on disposition of WhiteWave common stock of $416 million, the gain on sale of Morningstar of $492 million (net of tax) and other one-time or non-recurring items, as more fully described in the attached tables. On an adjusted basis, the company earned $0.86 per diluted share for the full year 2013, compared to $0.77 for the full year 2012.
For the fourth quarter of 2013, the company reported a loss from continuing operations attributable to Dean Foods of $0.40 per share, compared to fourth quarter 2012 income from continuing operations of $0.08 per share. The loss for the fourth quarter of 2013 includes a $63 million (net of tax) loss on the early retirement of debt, $10 million (net of tax) of restructuring charges and other one-time or non-recurring items, as more fully described in the attached tables. On an adjusted basis, fourth quarter 2013 diluted earnings from continuing operations were $0.18 per share, compared to fourth quarter 2012 adjusted earnings of $0.23 per share.
Fourth quarter 2013 operating income totaled $35 million, compared to fourth quarter 2012 operating income of $38 million. Fourth quarter 2013 adjusted operating income totaled $48 million, compared to $62 million in the year-ago period on an adjusted basis.
Full year 2013 operating income totaled $131 million, compared to full year 2012 operating income of $261 million. Full year 2013 adjusted operating income totaled $228 million, compared to $256 million in the year ago period on an adjusted basis.
Net loss from continuing operations attributable to Dean Foods totaled $37 million for the fourth quarter of 2013, compared with $8 million in income the previous year. On an adjusted basis, fourth quarter net income from continuing operations attributable to Dean Foods totaled $17 million, compared with $21 million in the previous year.
Net income attributable to Dean Foods totaled $813 million for the full year 2013, compared with $159 million in the previous year. On an adjusted basis, net income for the full year 2013 totaled $82 million, compared to $72 million in 2012. Full report.
