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Dean Foods warns on 4Q
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June 19, 2001: 8:16 a.m. ET
Dairy products maker hurt by specialty foods unit, stock compensation cost
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NEW YORK (CNNfn) - Dairy products maker Dean Foods Co. warned Tuesday that profit in its recently completed quarter was about a third lower than expectations.
The nation's second-largest milk producer, which has agreed to be purchased by Suiza Foods (SZA: Research, Estimates), said it expects earnings per share of 40 to 43 cents for its fiscal fourth quarter, ended May 27. Analysts surveyed by earnings tracker First Call were looking for EPS of 64 cents, down from 83 cents in the year-earlier period.
The company said dairy product sales and profits exceeded expectations, but it was hit by lower than expected profit from its specialty foods, dips and dressings. It was also hurt by expenses for certain stock-based compensation programs due to the recent increase in its stock price following the April 5 purchase announcement.
Shares of Dean Foods (DF: Research, Estimates) lost 36 cents to close Monday at $40.39. 
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