AdvancePierre recently launched a new flame-grilled burger sandwich component for food service.

Operating income in Convenience was 38,925,000, up 31 percent from $29,776,000. Net sales of $229,837,000 were up 14 percent from $201,845,000.

In Industrial, operating income of $3,080,000 was up 11 percent from $2,767,000. Net sales of $78,877,000 were down 38 percent from $127,730,000.

AdvancePierre companywide in the fourth quarter had net income of $33,145,000, or $0.42 per share, nearly triple the net income of $11,688,000, or $0.18 per share, in the previous year’s fourth quarter.

 

AdvancePierre's net sales in the fourth quarter were up 6 percent from last year.

Net sales in the fourth quarter were $409,423,000, up 6 percent from $386,054,000 in the previous year’s fourth quarter. The increase primarily was attributable to acquisition of Allied Specialty Foods and organic core volume growth. Partially offsetting the growth were strategic price and trade spending investments to reflect lower raw material costs, which reduced net sales.

“In an industry where flat or even modest declines have become the benchmark, delivering growth stands out,” Sliva said. “Organic core volume growth in Q4 was 5.7 percent, solidly ahead of our long-term 2 percent to 3 percent expectations, and more importantly, it pushed our full-year performance to the middle of this range at 2.5 percent.

“Equally important in my mind, each of our core operating segments, foodservice, retail and convenience, delivered profitable growth in the quarter, at or above our long-term algorithm targets for each respective segment.”