Dean Foods Q1 Profit Tops Estimates - Quick Facts

(RTTNews) - Dean Foods Company (DF) reported a first quarter net loss of $73.7 million or $0.78 per share, compared to a net loss of $9.0 million or $0.09 per share, prior year. Adjusted earnings per share was $0.24, for the quarter.

In conjunction with the decision to launch DairyPure in the first quarter of 2015, Dean Foods changed certain indefinite lived assets to finite lived resulting in a triggering event for impairment testing purposes. As a result, the company recorded a non-cash charge of $109.9 million ($68.7 million net of tax) related to the impairment of certain of intangible assets.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.17 for the quarter. Analysts' estimates typically exclude special items.

Net sales were $2.05 billion compared to $2.34 billion last year. Analysts expected revenue of $2.11 billion for the quarter.

The company expects its second quarter adjusted earnings of between $0.20 and $0.30 per share. Analysts expect the company to report second-quarter earnings per share of $0.19.