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United Natural Foods Inc. (UNFI) reported a net sales increase of 16.8 percent to $2.06 billion for the fourth quarter of fiscal 2015 ended Aug. 1, compared with $1.76 billion for the year-ago period. Q4 net income grew 8.2 percent to $36.1 million from last year, while diluted EPS rose 7.5 percent to 72 cents, versus 67 cents in the same period last year.
Q4 2015 included net sales of about $221.7 million from UNFI's acquisition of Tony's Fine Foods, as compared to $45.3 million in the year-ago period. Operating income grew 26.9 percent, or $13.8 million, to $65.1 million for Q4, compared with $51.3 million for the year-ago period.
UNFI 2015 Results
For the fiscal year ended Aug. 1, net sales were $8.18 billion, an increase of 20.5 percent, or $1.39 billion, from the year-ago period. Operating income grew 14.8 percent to $242 million, compared with $210.8 million in 2014. Adjusted operating income rose 19.2 percent to $251.3 million, while diluted EPS was up 9.5 percent to $2.76 in 2015, versus $2.52 in 2014.
"During fiscal 2015 we completed the buildout of our distribution network, preparing us for a new phase of growth,” noted UNFI President and CEO Steven Spinner. "With this additional capacity, particularly within perishables, we are poised to capitalize on increasing demand for fresh and distinctive products."
2015 net sales included about $882.8 million from the UNFI's acquisition of Tony's, as compared with $45.3 million in the same period last year. Operating income for 2015 was $242 million, a 14.8 percent increase from the $210.8 million posted in 2014.
"The UNFI team continues to demonstrate its commitment to growth and resilience as our industry changes," added Spinner. "UNFI is well positioned to use its scale and differentiated product offering to add significant value for its customers across North America."