WhiteWave reports higher revenue, profit

BROOMFIELD – WhiteWave Foods Co. reported revenue of $616 million and a net profit of $31.2 million for its second quarter that ended June 30, improving on revenue and income compared with the same period a year ago.

The $616 million in revenue was a 10 percent increase compared with $558 million in the second quarter of 2012. Net income of $31.2 million in the second quarter was a 19 percent increase compared with $26.4 million in the same quarter a year ago.

For the second quarter, WhiteWave reported earnings per share of 16 cents, a 28 percent increase compared with the second quarter of 2012.

Broomfield-based WhiteWave (NYSE: WWAV), makers of plant-based foods and beverages, coffee creamers and dairy products, was spun off earlier this year from Dean Foods Co. to become a standalone company.

In July, Dean Foods closed on the public offering of its remaining 34.4 million shares of WhiteWave Class A common stock and no longer owns any shares of WhiteWave common stock.

“We reached the final milestone in our separation from Dean Foods in July,´ said Gregg Engles, chairman and chief executive of WhiteWave.

“All of our platforms continue to deliver strong volume growth, which drove robust topline performance for the second quarter,” Engles said. “We are pleased with our initial results as a standalone company, and remain focused on continuing to drive growth, further optimizing our cost structure and developing innovative products that will change the way the world eats for the better.”

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