Dean Foods warns of challenging quarter after loss; shares fall

Thu Aug 8, 2013 8:37am EDT
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Aug 8 (Reuters) - Top U.S. dairy company Dean Foods Co reported a second-quarter loss and warned that its current quarter would be the most challenging of the year, sending its shares down 4 percent in premarket trade.

Dean Foods reported a net loss of $56.9 million, or 30 cents per share, on an attributable basis for the quarter ended June, compared with a profit of $56.2 million, or 30 cents per share, a year earlier.

On an adjusted basis, Dean Foods earned 13 cents per share from continuing operations.

Revenue was flat at $2.2 billion.

Dean Foods sold Morningstar, which sells coffee creamers, ice cream mixes and other dairy products, to Canadian dairy products maker Saputo Inc in January.

The company also no longer holds any ownership stake in WhiteWave Foods Co. (Reporting by Aditi Shrivastava in Bangalore; Editing by Sriraj Kalluvila)