Sysco, which sells, markets and distributes food products, has reported sales of $9.7 billion for the fourth quarter ended June 28, 2008, an increase of 5.4%, compared to $9.2 billion for the same quarter of fiscal 2007.
Operating income increased 9.7% to $559 million, compared to $509 million in the fourth quarter of fiscal 2007. Diluted earnings per share (EPS) increased 12.2% to $0.55, compared to $0.49 per diluted share in the corresponding quarter of fiscal 2007.
For the fiscal year ended June 28, 2008, sales increased 7.1% to $37.5 billion, compared to $35 billion in fiscal 2007. Operating income increased 10% to $1.9 billion, compared to $1.7 billion in fiscal 2007. Diluted EPS increased 13.1% to $1.81, compared to $1.60 per diluted share in the corresponding period of 2007.
Richard Schnieders, chairman and CEO of Sysco, said: "For the eighth time in the last 10 years we have generated double digit earnings per share growth. The accomplishment is particularly notable this year as we overcame significant obstacles, including market forces such as prolonged inflation and high fuel costs."
Story Source: Datamonitor
