Sales declines at Ruddick's thread & technical textiles subsidiary

02 Nov '09

1 min read

Ruddick Corporation reported that consolidated sales for fiscal 2009 increased by 2.1% to $4.08 billion from $3.99 billion in fiscal 2008. Consolidated sales for the fiscal fourth quarter ended September 27, 2009 increased by 2.1% to $1.05 billion from $1.03 billion in the fourth quarter of fiscal 2008. The increase in consolidated sales for the year and quarter was attributable to sales increases at Harris Teeter, the Company's supermarket subsidiary, that were partially offset by sales declines at American & Efird (“A&E”), the Company's sewing thread and technical textiles subsidiary.

The Company reported that consolidated net income for fiscal 2009 was $86.0 million, or $1.78 per diluted share, as compared to $96.8 million, or $2.00 per diluted share reported for fiscal 2008. For the fiscal fourth quarter ended September 27, 2009, consolidated net income was $23.6 million, or $0.49 per diluted share, as compared to $24.8 million, or $0.51 per diluted share, in the fourth quarter of fiscal 2008.

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