Boston, MA 05/15/2014 (wallstreetpr) – SunOpta, Inc. (USA) (NASDAQ:STKL) emerged strongly from the three months quarter that ended March 30, as the company reported financial results that exceeded its performance a year earlier. In addition to strong performance in the latest quarter, the food organization also raised hope of a brighter future as it expects to realize higher sales domestically and abroad.
The company boasts $843 million in market cap, and it has global operations where it provides health food products that promote well-being.
In the latest quarter, the company noted increasing interest in healthy foods around the world, a condition that it expects to support long-term high global sales. As such, the company intends to improve its capacity in readiness for the anticipated big demand.
The strong 1Q2014 financial performance was supported by big demand from North America and Europe, some of the markets that the company has improved its marketing activities. The quarter saw growth at the top-line and the bottom-line. That development signaled that the company’s cost control is paying off.
Executive comment
SunOpta, Inc. (USA) (NASDAQ:STKL) CEO Steve Bromley said the company intends to capitalize on its strengths, to capture a bigger market share in the healthy foods industry even as it maintains a curb on expenses. He also noted that the increase in personal incomes around the world bodes well for healthy food industry.
Sales up 18 percent
SunOpta, Inc. (USA) (NASDAQ:STKL) said its 1Q sales up 17.9 percent to $333.5 million. The growth in revenue was supported by strong demand of value-added ingredients and the consumer packaged food. The two segments experienced significant growth in Europe and North America.
Operating income in the quarter touched $12.1 million, ahead of $10.7 million realized in the same quarter last year. The increase in operating income drew support from margins and volume increases during the latest quarter compared to a year earlier.
SunOpta, Inc. (USA) (NASDAQ:STKL) concluded the quarter with $6.6 million in net income, against $5.1 million in 1Q2013.
