Garelick Parent Posts Q3 Profit Increase

Dean Foods, the Dallas-based parent of Franklin's Garelick Farms dairy posted net income of $49.7 million for the third quarter compared to $37.8 million the prior year.

The 32 percent profit increase was despite net sales that decreased by 13 percent compared to last year as a result of lower dairy commodity costs and smaller sales volumes at the company's WhiteWave-Morningstar unit.

The sales decrease was offset by growth related to Dean's acquisition of Fresh Dairy Direct.

Operating income increased from $132 million to $137 million year-over-year and the company finished the quarter with cash and equivalents of $39 million, compared to $36 million a year ago.