August 9, 2011 / 9:24 PM / in 6 years

UPDATE 1-SunOpta Q2 profit falls on lower margins

* Q2 EPS $0.07 vs $0.09 yr ago

* Rev up 24 pct at $290.8 mln (Follows alerts)

Aug 9 (Reuters) - Canadian organic food processor SunOpta Inc posted a lower quarterly profit as higher sunflower prices hurt margins.

Second-quarter net income fell to $4.4 million, or 7 cents per share, from $6.2 million, or 9 cents per share, a year ago.

SunOpta’s sunflower business was hit by higher input prices for sunflowers, which come mainly from North American farms.

Brampton, Ontario-based SunOpta posted a 24 percent rise in revenue at $290.8 million.

The company also operates Opta Minerals Inc , said cost of goods sold rose 30 percent to $257.1 million.

Shares of the company closed at C$4.90 on Tuesday on the Toronto Stock Exchange. (Reporting by Maneesha Tiwari in Bangalore; Editing by Maju Samuel)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below