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Animal Health News & Notes for August 17, 2001
**************************************************************** Brakke Consulting’s Animal Health News & Notes for August 17, 2001 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Bayer reported that sales for the first half of 2001 for its animal health division were down 6% compared to the comparable period in 2000, of which 5% represented the divestiture of the US livestock vaccines business. Good growth rates were achieved by the flea control product Advantage in North America and Japan, and the anti-infective Baytril in North America. (company website) > Novartis reported that sales for the first half of 2001 for its animal health division were CHF 490 million ($273 million), a decrease of 5% (2% in local currencies) over the first half of 2000. Operating income for the first half of 2001 was CHF 66 million ($37 million), unchanged from the prior year period. Shortfalls in the US, due to the economic slowdown and competitive pressures in the flea treatment segment, and setbacks in the UK due to the foot and mouth outbreak, were largely offset by the performance in Latin America and Asia. Significant sales growth was achieved by Tiamulin and by the recently acquired vaccine businesses. Fortekor also grew strongly. (company website) > IGI, INC. reported $819,000 in operating profit on revenues of $4.1 million for the second quarter ended June 30,
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August 17, 2001
Animal Health News & Notes for August 10, 2001
**************************************************************** Brakke Consulting’s Animal Health News & Notes for August 10, 2001 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Doane Pet Care Company reported results for its second quarter and six months ended June 30, 2001. The Company reported a net loss of $6.2 million for its second quarter ended June 30, 2001 on a 6% increase in net sales to $222.7 million, compared to a net loss of $7.1 million on net sales of $210.7 million for the second quarter ended July 1, 2000. On a pro forma basis, which includes sales from the Arovit acquisition (completed in May 2000) in both periods, the current quarter net sales were comparable to the 2000 second quarter. The Company reported a net loss of $14.9 million for the six months ended June 30, 2001 on a 15% increase in net sales to $478.5 million, compared to net income of $3.0 million on net sales of $415.2 million for the same six month period a year ago. On a pro forma basis, which includes sales from the Arovit acquisition (completed in May 2000) in both periods, net sales increased 3% over the comparable period. (PRNewswire) > Central Garden & Pet Company announced financial results for the fiscal third quarter ended June 30, 2001. Net sales for the fiscal third
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August 10, 2001
Animal Health News & Notes for August 3, 2001
**************************************************************** Brakke Consulting’s Animal Health News & Notes for August 3, 2001 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Aventis reported that in the first half of 2001, sales by the animal health business Merial rose 10% to € 944 million ($800 million). This figure includes the poultry genetics business. (company press release) > Akzo Nobel reported revenues for Intervet for the second quarter of 2001 were € 282 million ($240 million), an increase of 12% over the second quarter of 2000. Revenues for the first half of 2001 were € 539 million ($460 million), an increase of 10% over the first half of 2000. (company website) > Alpharma Inc. announced financial results for the second quarter and six months ended June 30, 2001. Animal Pharmaceuticals revenue was basically flat in the second quarter at $81.7 million when compared to the same period last year. Significant increases in swine product sales were offset by declines in poultry product sales. Conditions in the U.S. poultry market, including the impact of reduced customer inventory levels, together with softness in Asian markets, were the cause of the decline. This mix resulted in operating income of $9.2 million, 25% lower than the prior year period. For the six months ended June 30, 2001, Animal Pharmaceuticals revenue was $165.2 million, an increase
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August 3, 2001
Animal Health News & Notes for July 27, 2001
**************************************************************** Brakke Consulting’s Animal Health News & Notes for July 27, 2001 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > American Home Products reported that sales for the second quarter 2000 at Fort Dodge declined 9% to $192 million. The decrease was due primarily to a decline in the United States livestock market causing a reduction in the use of certain animal health biological and pharmaceutical cattle products. Also contributing to the decline in animal health product revenues was lower demand for certain pharmaceutical cattle products internationally resulting from the outbreak of foot-and-mouth disease and the continued concerns about mad-cow disease. The decrease in revenues was partially offset by the domestic launch, in June 2001, of ProHeart 6. (PRNewswire) > Pharmacia reported that second quarter 2000 revenues from its animal health unit increased 3% during the quarter to $112 million. Revenues for the first half of 2000 were up 8% to $225 million. (company website) > Schering-Plough reported that second quarter sales of animal health products were down 1% percent to $171 million (up 3% when foreign exchange is excluded). Sales of animal health products decreased 2% in the 2001 first half (up 2% when foreign exchange is excluded) and totaled $324 million. (company website) > Ralston Purina announced third quarter earnings before unusual items of $86.2 million
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July 27, 2001
Animal Health News & Notes for July 20, 2001
**************************************************************** Brakke Consulting’s Animal Health News & Notes for July 20, 2001 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Pfizer reported that second-quarter sales of the Animal Health business were down 14% (down 9% excluding the effects of foreign exchange) to $247 million, mainly due to the recent divestiture of feed-additive product lines, foreign exchange, and the impact of mad cow disease and foot and mouth disease in Europe. Excluding foreign exchange and sale of the feed-additive product lines, second-quarter sales were essentially unchanged. (company press release) > Eli Lilly reported that worldwide sales of animal health division Elanco in the second quarter of 2001 were $156.2 million, an increase of 3% compared with the second quarter of 2000. Excluding the effect of exchange rates, sales grew by 8% for the quarter. (company website) > IDEXX Laboratories, Inc. reported net income of $10.0 million for the quarter ended June 30, 2001, compared to net income of $9.5 million for the same period in the prior year. Revenues for the second quarter increased to $102 million from $94 million for the second quarter of 2000. For the six months ended June 30, 2001, net income increased to $17.575 million from $17.562 million for the first six months of 2000. (Business Wire) > Guyomarc’h announced sales of 189 million
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July 20, 2001
Animal Health News & Notes for July 13, 2001
**************************************************************** Brakke Consulting’s Animal Health News & Notes for July 13, 2001 Copyright © Brakke Consulting, Inc. **************************************************************** Company News Releases > Mars Inc. has agreed to buy BNP Paribas’ 56.4% stake in Royal Canin for about $730 million and plans to take full control in 2003. In a statement, Mars said it will extend the offer to minority shareholders and said it plans to take full control of Royal Canin in 2003. The deal will strengthen Mars’ holdings in dry pet foods, a market for which Royal Canin is known. Mars said the offer represents an 18% premium over Royal Canin’s last trading price of 122.7 euros ($105.5), and a 29% premium over the average trading price last month. Royal Canin posted profits of 30.6 million euros ($26.3 million) in 2000 – a 20% rise over 1999. (AP) > Patterson Dental Co., one of the largest distributors of dental supplies, announced it is purchasing the operating assets of J.A. Webster Inc. for $92.5 million. Webster, which will be operated as a wholly owned subsidiary under current management, is the nation’s third-largest distributor of veterinary supplies for household pets. The privately held Webster’s sales increased 12 percent to about $150 million in the year ended Dec. 31. Webster serves more than 10,000 of the nearly 17,000 veterinary practices in the
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July 13, 2001
Animal Health News & Notes for July 6, 2001
**************************************************************** Brakke Consulting’s Animal Health News & Notes for July 6, 2001 Copyright © Brakke Consulting, Inc. **************************************************************** Company News Releases > According to a press release, Royal Canin claims that it is now Europe’s leading maker of nutritional dog and cat food, catering for the age and activity of the animal, and health food which takes account of a pet’s breed and condition. Between 1994 and 2000, the group’s average annual sales of health food grew 27%. Sales of nutritional foods are likely to make up more than 90% of total sales in five years, from some 60% now and 17% in 1993. The group posted a 20% jump in 2000 net profit and sales of 425.2 million euros ($360 million) from 356.6 million euros. Royal Canin is 56% owned by Paribas. (Reuters) > Church & Dwight has acquired Carter-Wallace’s pet-care and antiperspirant business for about $128 million. Carter-Wallace’s pet-care line includes Lambert-Kay pet care products. (Pet Product News) > Neogen Corporation has completed the acquisition of QA Life Sciences, Inc. QA Life Sciences is a niche player in the foodborne bacteria testing market with unique, established technology that complements Neogen’s comprehensive food safety product offerings. The transaction included the exchange of QA’s stock for 58,000 shares of Neogen’s stock. Terms of the deal also included a continuing consulting
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July 6, 2001
Animal Health News & Notes for June 29, 2001
**************************************************************** Brakke Consulting’s Animal Health News & Notes for June 29, 2001 Copyright © Brakke Consulting, Inc. **************************************************************** BRAKKE CONSULTING ANNOUNCES NEW ADDITION TO TEAM Brakke Consulting announced that Eli Thomssen, BS, MBA, has joined the firm effective immediately. Mr. Thomssen, formerly a VP Business Development and Strategic Planning for Pharmacia Animal Health, brings over thirty years of animal health industry experience to the firm, with particular expertise in the areas of mergers, acquisitions, divestitures and licensing activity. Mr. Thomssen has been involved in numerous transactions with some of the leading products and companies in the industry. His addition to Brakke Consulting will strengthen the firm’s ability to act as a resource to our clients in the area of business development. Mr. Thomssen will also be developing a new service for the firm that will be announced in the near future. **************************************************************** Company News Releases > Pharmacia Animal Health announced that the 100-Day Contract Dairy Wellness Plan is now online. The 100-Day Contract focuses on cow health during the critical 100 days that begin 30 days before freshening and end 70 days after calving. The new Web site, www.100daycontract.com, provides detailed information about putting the 100-Day Contract into practice, including dry-cow, fresh-cow and breeding programs. The site offers management tools, troubleshooting tips and answers to specific questions. Also included is
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June 29, 2001
Animal Health News & Notes for June 22, 2001
**************************************************************** Brakke Consulting’s Animal Health News & Notes for June 22, 2001 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Vetoquinol reported sales of 111 million euros ($105 million) for the year 2000, a 14% increase over 1999. Companion animal products now represent approximately 40% of total sales. (Animal Pharm) > International Absorbents Inc. announced financial results for the First Quarter ended April 30, 2001. Revenues for the quarter increased by 17% to $2.5 million versus $2.2 million for the first quarter last year. Net income was $268,000. During the quarter the company added three new product lines. (PRNewswire) **************************************************************** Company News Releases > Purina Mills Inc. has agreed to a $360 million buyout by Land O’Lakes Inc. The deal would be worth $23 a share for Purina Mills stockholders, a 19.2% premium over last Friday’s closing price. Land O’Lakes had sales of $5.8 billion and profits of $103 million last year. The cooperative does business in all 50 states and more than 50 countries. Land O’Lakes created the largest feed company in North America last September, when it combined its feed operations with those of Farmland Industries, a Kansas City-based cooperative. Purina Mills will become part of that business, Land O’Lakes Farmland LLC. However, it will continue to be based in St. Louis and would have its
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June 22, 2001
Animal Health News & Notes for June 15, 2001
**************************************************************** Brakke Consulting’s Animal Health News & Notes for June 15, 2001 Copyright © Brakke Consulting, Inc. **************************************************************** Company News Releases > The Iams Company, a leading provider of therapeutic diets for veterinary use, has selected VetCentric to deliver Eukanuba Veterinary Diets® directly to clients on behalf of recommending veterinarians. With their veterinarian’s prescription, clients can authorize automatic refills and product shipment by placing a phone call, sending an e-mail, or logging in to their veterinarian’s Web site. Iams and VetCentric will co-promote the client delivery option to veterinarians not currently using this service. All facets of the transaction are handled by VetCentric, including inventory management, shipping, billing, and customer service. (company press release) > Neogen Corporation has entered into a letter of intent to acquire QA Life Sciences, Inc. of San Diego, Calif. The purchase is subject to due diligence and approval of Neogen’s Board of Directors, and is expected to be completed in less than 60 days. QA Life Sciences is a niche player in the foodborne bacteria testing market with unique, established technology that complements Neogen’s comprehensive food safety product offerings. QA’s sales were less than $1.0 million in its last fiscal year. The majority of the company’s products carry quality approvals from the independent Association of Official Analytical Chemists (AOAC). (PRNewswire) > PETsMART announced that the
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June 15, 2001
Animal Health News & Notes for June 8, 2001
**************************************************************** Brakke Consulting’s Animal Health News & Notes for June 8, 2001 Copyright © Brakke Consulting, Inc. **************************************************************** Company News Releases > The FDA has approved ProHeart 6, the first long-term injectable drug to prevent heartworm in dogs. One injection provides six months of heartworm protection. The new drug, ProHeart 6, provides an alternative to current heartworm drugs that involve pills taken daily or monthly. ProHeart 6 is made by Fort Dodge Animal Health. The drug will be available by prescription from a licensed veterinarian. It is approved for use in dogs 6 months of age and older and also treats existing hookworm infections. (AP) > Lohmann Animal Health International is adding the Tad Lohmann line of vaccines to its existing Maine Biological Laboratories and Vineland Laboratories lines in the Americas, effective July 1. LAHI will also introduce a new label this year to bring Lohmann AG’s red trademark color into its Main Biological (green) and Vineland (blue) color schemes. (Feedstuffs) > International Absorbents Inc. announced a marketing alliance with Supreme Petfoods, Ltd., makers of the No. 1 small animal food brand in the United Kingdom. The two companies will co-brand products and act as each other’s Master Distributor in their respective regions. International Absorbents’ wholly owned subsidiary, Absorption Corp, will sell Supreme Petfoods’ line of small animal food, led
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June 8, 2001
Animal Health News & Notes for June 1, 2001
**************************************************************** Brakke Consulting’s Animal Health News & Notes for June 1, 2001 Copyright © Brakke Consulting, Inc. **************************************************************** Company News Releases > Irwin Jacobs and Prudential Insurance Co. of America are the latest investors to disclose that they own large stakes in Purina Mills Inc., the nation’s largest manufacturer of animal feed. Purina Mills said on May 8 that it had received an acquisition proposal, but hasn’t disclosed the suitor’s identity. Cargill disclosed May 18 that it had acquired a 5.3% stake in the company. Jacobs now controls 562,000 shares, or 5.62%, of Purina Mills. Prudential Insurance holds 858,513 shares, or 8.59% of Purina Mills. (Emarkets – St. Louis Post-Dispatch) > Synbiotics has developed a rapid new diagnostic screening test for Johne’s disease. The Serelisa ParaTB test can be run by state-approved laboratories. Results are available in 75 minutes and include a “suspect” rating. (Hoard’s Dairyman) > eMerge Interactive, a technology company providing supply-chain management and marketing solutions for the beef production industry, announced that it has reached an agreement with the Oklahoma Cattlemen’s Association to manage the individual-animal tracking and marketing systems of the Association’s new Oklahoma Quality Beef Network (OQBN). The program is designed to help member producers, representing 85% of the state’s cattle-production capacity of nearly 2 million head, capture the value they have added to their
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June 1, 2001
Animal Health News & Notes for May 25, 2001
**************************************************************** Brakke Consulting’s Animal Health News & Notes for May 25, 2001 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > PETsMART, Inc. announced financial results for the first quarter of fiscal 2001, which ended April 29, 2001. The company reported first quarter net income of $1.2 million, including the full results of PETsMART.com. That compares with reported net income of $587,000 and a pro-forma net loss of ($6.9) million for the same period last year. In order to draw a meaningful year-over-year comparison, pro-forma results for last year’s first quarter include the full results of PETsMART.com. Consolidated results for the first quarter of 2001 include $28.2 million in sales and a ($7.0) million operating loss related to the company’s direct marketing subsidiaries, PETsMART.com and PETsMART Direct. Net sales for the first quarter increased 9% to $582.0 million, compared with $534.0 million for the same period last year. Comparable store sales increased 3.2%. (Business Wire) > Biopure Corporation announced its financial results for the second fiscal quarter ended April 30, 2001. Total revenues were $838,000 for the second quarter of fiscal 2001, compared with $710,000 for the corresponding period in 2000. This 18% increase reflects initial European sales and 13% growth in U.S. sales of Oxyglobin, the company’s veterinary drug for the treatment of canine anemia. For the quarter,
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May 25, 2001
Animal Health News & Notes for May 18, 2001
**************************************************************** Brakke Consulting’s Animal Health News & Notes for May 18, 2001 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > IGI, INC. reported total revenues for the quarter ended March 31, 2001 were $4.1 million, which represents a decrease of or 22% from revenues of $5.3 million for the quarter ended March 31, 2000. The decrease in revenues was due to lower product sales for the Companion Pet Products division and lower consumer sales and licensing revenues in the Consumer Products division. Cash income from continuing operations was $115,000 for the first quarter ended March 31, 2001. This compared to a cash loss from continuing operations of $(822,000) for the comparable period in 2000. During the first quarter of 2001, the manufacturing of Pet Care Products was outsourced, in an effort to improve efficiencies and increase gross margins. (PRNewswire) **************************************************************** Company News Releases > Novartis has acquired 20% of the voting shares of its competitor Roche. The acquisition agreement calls for Novartis to take over 32 million bearer shares at a price of SFR151 per share or SFR4.83 billion in total. This represents 20% of voting shares, but only 3.7% of Roche’s securities. Roche did its best to dispel industry speculation that Novartis’s move might be a first step towards a merger of the two companies. However, most
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May 18, 2001
Animal Health News & Notes for May 11, 2001
**************************************************************** Brakke Consulting’s Animal Health News & Notes for May 11, 2001 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Aventis reported that for the first quarter of 2001, sales by the animal health business Merial rose 20.2% to € 434 million ($382 million), and an increase of +18% excluding currency effects, from the year-ago period. Aventis also announced that it is in talks with potential new shareholders for Aventis Animal Nutrition. (company website) > Embrex announced that first-quarter revenues for 2001 were $10.8 million, an increase of 16% over revenues of $9.3 million for the same period in 2000. First-quarter net income was $2.1 million, an increase of 34% over net income of $1.5 million for the same period in 2000 or 12% before the previously announced restatement of earnings for the first quarter 2000, related to the misappropriation in Embrex’s European subsidiary. The company’s first-quarter revenue increase was primarily attributable to additional installations of Inovoject systems and increased injection activity in North America, Asia, Latin America and Europe, as well as Inovoject system sales in Japan and Europe. In addition, sales of Bursaplex in ovo bursal disease vaccine were up 87% over the first quarter of 2000, contributing to the revenue increase. (company website) > Central Garden & Pet Company announced financial results for the fiscal
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May 11, 2001
Animal Health News & Notes for May 4, 2001
**************************************************************** Brakke Consulting’s Animal Health News & Notes for May 4, 2001 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > American Home Products reported that its animal health subsidiary Fort Dodge Animal Health had revenues of $162 million in the first quarter of 2001, a decrease of 4% over the comparable period in 2000. (company website) > Alpharma reported that Animal Pharmaceuticals revenues increased 97% to $83.5 million in the quarter ended March 31, 2001. Operating income increased 87% to $12.7 million. Excluding the Roche feed additives acquisition, revenues declined 20% or about $8 million. Unfavorable market conditions in the U.S. poultry and some international livestock markets, which based upon the Company’s view of the market are temporary, were the major cause of the decline. (PRNewswire) > Tyson Foods Inc. announced a second-quarter loss, citing lower chicken prices, a product recall, the impact of a tough winter and its decision to call off its purchase of IBP Inc. Tyson lost $6 million in its second fiscal quarter that ended March 31, compared to a profit of $35.7 million a year earlier. Sales rose 2% to $1.83 billion from $1.79 billion in the second quarter of 2000. (AP) > Virbac SA reported turnover for the year 2000 of 325 million euros ($306 million), an increase of 18% over 1999.
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May 4, 2001
Animal Health News & Notes for April 28, 2001
**************************************************************** Brakke Consulting’s Animal Health News & Notes for April 28, 2001 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Akzo Nobel reported that first quarter 2001 sales for its animal health division Intervet were 257 million euros ($226 million), an increase of 8% over the comparable period in 2000. (company website) > Bayer reported that sales in the Animal Health Business Group fell by 7%, mainly because of the BSE and FMD crises in Europe and the divestiture of the livestock vaccines business in the United States. (company website) > Novartis reported that first quarter 2001 sales for its animal health division were CHF 240 million ($139 million), a decrease of 4% from the comparable period last year (0% in local currencies). Sales were underpinned by the significant growth of Tiamulin (respiratory and gastroenteric diseases in pigs) and by the recently acquired vaccine businesses. Fortekor, the heart failure product for dogs also grew strongly, boosted by the additional indication of renal insufficiency in cats. The positive trend was offset by the Farm Animal Business crisis in the UK (foot-and-mouth disease) and by slow sales of parasite treatments in the US pet segment. (company website) > Pharmacia reported first quarter 2001 sales in the Animal Health business were $113 million, an increase of 14% over the comparable period
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April 28, 2001
Animal Health News & Notes for April 20, 2001
**************************************************************** Brakke Consulting’s Animal Health News & Notes for April 20, 2001 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Pfizer reported that first quarter 2001 sales of the Animal Health business were down 17% (down 13% excluding the effects of foreign exchange) to $220 million, mainly due to the recent divestiture of feed-additive product lines, foreign exchange, the effect of the initial distribution of the anti-parasitic Revolution in 2000, and the impact of mad cow and foot and mouth diseases in Europe. (company website) > Eli Lilly reported that worldwide sales for Elanco in the first quarter of 2001 for were $164.1 million, an increase of 6% when compared with the first quarter of 2000. Excluding the effect of exchange rates, sales grew by 9% for the quarter. (Company website) > Schering-Plough reported that first quarter 2001 sales of animal health products were down 2% (up 2% when foreign exchange is excluded) to $153 million. (PRNewswire) > IDEXX Laboratories, Inc. reported net income of $7.6 million for the quarter ended March 31, 2001, compared to net income of $8.0 million for the same period in the prior year. Revenues for the first quarter were $91.43 million compared to $91.39 million for the first quarter of 2000. Performance was particularly strong for water testing products, veterinary laboratory services,
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April 20, 2001
Animal Health News & Notes for April 13, 2001
**************************************************************** Brakke Consulting’s Animal Health News & Notes for April 13, 2001 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases **************************************************************** Company News Releases > Pfizer has donated $300,000 to establish the Companion Animal Pain Management Consortium, comprised of the University of Tennessee, Colorado State University, the University of Illinois and Pfizer. The group has plans to develop consensus pain management protocols and bolster pain management education and research in universities and in continuing education efforts. (Veterinary Practice News) > Two German states – Hesse and Saarland – have entered into a contract with Merial for foot and mouth vaccines. About 100,000 doses of vaccine are stored in the Hesse test center in Kassel for both states, and can be called upon immediately. On behalf of the other 14 federal states, Bayer’s vaccine reserve bank in Cologne is exclusively keeping all the supplies required for comprehensive vaccination in an extremely short time if the disease spreads in Germany. Bayer AG’s animal disease expert explained that, up to now, the vaccine reserve bank has stored supplies of 100,000 doses for each of the 12 most important virus strains for immediate use. In the mean time, at the request of the states these stocks have been increased to 600,000 as a precaution, and an additional half a million units
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April 13, 2001
Animal Health News & Notes for April 6, 2001
**************************************************************** Brakke Consulting’s Animal Health News & Notes for April 6, 2001 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Roche reported that sales of vitamins and fine chemicals to the animal feed industry in the fiscal year 2000 were 52% of the CHF 3,605 million in sales, or approximately CHF 1,875 million ($1,164 million). The company noted that sales of carotenoids were exceptionally good, due primarily to a strong demand for astaxanthin in the aquaculture sector in Norway and Chile and for canthaxanthin in Canada. Biotin sales were also up. Ronozyme P, a new phytase product, was approved for marketing in a number of countries and has already contributed appreciably to good sales growth in the division. Roche divested its medicinal feed additives business in 2000. (company annual report) > Doane Pet Care Company reported a net loss of $9.5 million for its fourth quarter ended December 30, 2000 on net sales of $251.0 million, compared to net income of $9.5 million on net sales of $205.1 million for the 1999 fourth quarter. The 2000 fourth quarter was unfavorably impacted by $19.6 million of non-recurring charges primarily relating to the closure of certain inefficient manufacturing facilities. Doane reported a net loss of $4.9 million for its fiscal year ended December 30, 2000 on net sales of $891.9
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April 6, 2001
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