Dean Foods, a US-based dairy company, has reported that its net income totaled $56.1m for the second quarter ended 30 June 2012, compared to a loss of $50.5m for the same period in 2011.
The company posted 5.15% decrease in net revenues to $3.13bn, compared to $3.3bn for the asame period in 2011. Operating income for the period totaled $146m, compared to a loss of $16.4m in 2011.
Dean Foods said that it is planning to sell 20% stake in its WhiteWave Foods division by raising about $300m through an initial public offering (IPO). The transaction is expected to run in the fourth quarter.
During the period, WhiteWave-Alpro unit posted 11% increase in net revenues to $573m, compared to 2011. Operating income for the division increased by 31% to $58m.
Dean Foods operates through two segments - Fresh Dairy Direct-Morningstar, a processor and distributor of milk, creamers, and cultured dairy products, and WhiteWave-Alpro, which produces and sells a range of branded dairy, soy and plant-based beverages and foods.
The company's product range includes fluid milk, frozen vegetables, and processed pickles. Dean's product line includes ice cream, frozen desserts, canned vegetables, relishes, salad dressings, dips, and nondairy creamers.