Sysco Corp, the Houston TX-based foodservice marketer and distributor, has announced results for the 14-week fourth quarter and 53-week fiscal year that ended July 3, 2004.
In the fourth quarter, net earnings climbed 15.6% to $280.6 million versus $242.7 million in the fourth quarter a year earlier. Sales increased 16.7% to $8.14 billion, including sales from acquisitions of 0.4%, for the 14-week fourth quarter of fiscal 2004 as opposed to $6.97 billion in the 13-week fourth quarter of fiscal 2003. Adjusted for 13 weeks versus 13 weeks, sales were up 8.4% for the fourth quarter of fiscal 2004.
For the fiscal year, net earnings rose 16.6% to $907.2 million compared with $778.3 million a year ago. Sales advanced 12.2% to $29.3 billion, including sales from acquisitions of 0.8%, for the 53-week fiscal year ended July 3, 2004, in contrast to $26.1 billion for the 52-week fiscal year ended June 28, 2003. Adjusted for 52 weeks versus 52 weeks, sales rose 10.0% in fiscal 2004.