Del Monte Foods Company Reports Record Fiscal 2010 Second Quarter Results

Del Monte Foods Second Quarter Results

Del Monte Foods today reported net sales for the second quarter fiscal 2010 of $958.9 million compared to $901.0 million last year, an increase of 6.4%. Income from continuing operations was $62.6 million, or $0.31 earnings per share from continuing operations (EPS), compared to $27.3 million, or $0.14 EPS in the previous year. Results for the second quarter fiscal 2010 include pretax costs of $17 million ($0.05 EPS) related to the Company's recently closed notes offering and tender offer.

"Our second quarter earnings reflect strong volume and pricing-driven topline growth, significantly improved margins and a second consecutive quarter of record earnings," said Richard G. Wolford, Chairman and CEO of Del Monte Foods. "These results are a reflection of the momentum generated through the successful execution of our Accelerated Growth Plan. This strategy is targeted to increase marketing investment behind our core brands and to offset costs through pricing actions and productivity initiatives. In the second quarter, we successfully executed against these strategic objectives, including increasing our marketing investment by over 30% and generating $20 million in productivity savings. As we enter the holiday season, we are pleased with the early look at our developing merchandising initiatives and the execution of our promotional and pricing strategy. Based on the strong first half performance and lower expected full year costs, we are increasing our EPS target range for fiscal 2010. We are also increasing our long term operating margin expectations as we view fiscal 2010 as a new base for Del Monte from which we will continue to execute against our Accelerated Growth Plan to drive long-term value for our shareholders."

The 6.4% increase in net sales for the quarter reflects strong topline growth driven primarily by strong unit volume gains from existing products in Consumer Products, as well as the benefit of fiscal 2009 pricing actions partially offset by the impact of elasticity (the volume decline associated with price increases). New product volume growth (primarily in Consumer Products) also benefited the topline.

The 18 Carat dog chain

The 18 Carat chain is made exclusively for Luxury Pet Department by Luke Rose Jewellery.

This designer piece is made using a curved link especially imported from Germany, it is made from solid 18 Carat gold which is hallmarked and finished with a T-bar in the shape of a dog bone.

Each chain is handmade to order and this process takes 21 days to complete, the end result is quite simply stunning.

Any size chain required can be tailored made for your dog.

Make your dogs dreams come true with a chain that most pucci's can only dream of.

The average weight of each 18 carat dog chain is 70 grams.

Price: 3,000.00

New: Buy Pet Carriers (UK) Online

Buy Pet Carriers UK

Pet Carriers in the UK have just become cheaper and easier come by.

With the launch of new UK Pet Carriers website, PetCarriersDirect.co.uk, a fresh range of inexpensive yet quality products are now available.

Whether its dogs or cats, rabbits or rats, from soft crates to hard crates to insulated dog crates, Pet Carriers Direct supplies them all.

Also available are certain pet accessories, as well as pet pens and more.

All orders over £30 come with free deliver to anywhere in th UK.

So to buy pet carriers UK, visit www.petcarriersdirect.co.uk

Amazing Aquariums

These luxury aquariums are the top end of the fish product market.


The incredible fish tanks are huge, the picture to the left being nearly four feet long and the picture below holding 260 litres of water.


Some features include:

Finest Acrylic

Trickle filtration in hood

Large height for extra viewing area

Delivery with Extra Service**

Ready assembled, no flat pack to assemble

All connections into a single plug

Pet Company Donates $1m to Animal Shelters

Montreal based pet company Nutrience has, over the last 18 months, donated $1 million worth of their pet food to over 40 of Canada's animal shelters.

This charitable and generous donation has helped facilities across Canada to deal with the thousands of animal brought to rescue centers each year.

Nutrience is now the worlds largest privately run pet product manufacturer and distributor. Mark Hagen, Vice-President of Nutrition at Rolf C. Hagen Inc. said, "Giving back to communities across Canada by supporting volunteer-based organizations is extremely important to us. We truly enjoy supporting the volunteer shelters, as they believe in the education and promotion of companion animal health and well-being, which is an important part of our company's very core."

Nutrience assures their continued help and support the the shelters

Luxury Pet Store Profits in Recession

Burgess Pet Care, a UK based luxury pet product supplier, has announced that despite the recession, people are still shelling out for luxury pet items.

The supplier, known for their bestselling Supadog and Supacat foods, have reported profits, making them one of the survivors of the current economic climate.

Burgess is a family owned company who like to maintain a friendly and personal feel, perhaps a reason for their continuing success.

Visit their site here

Pet Products UK Launch

Pet Products UK launched today, first story coming shortly!