The nation's largest milk processor recorded a loss for the fourth quarter Tuesday, though that was largely attributable to the early retirement of debt and other one-time charges that were foreseen by the analysts that follow the company.
Yet Dean faces headwinds from a number of angles heading into 2014, the first being input costs.
"Current dairy commodity prices have moved near or beyond all-time highs despite strong global production growth," said CEO
And, after a subpar 2013 in which bonus targets were not reached, the company expects to pay out incentives at targeted levels.
"This higher level of incentive compensation is expected to be a drag on our financial performance in 2014," Tanner said.
Revenue for the
For the year,
The company got a boost last year from the sale of organic dairy companies WhiteWave and Morningstar.
Adjusted earnings were
Annual revenue fell 3 percent to
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