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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) December 20, 2000
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Dean Foods Company
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(Exact name of registrant as specified in its charter)
Delaware 1-08262 36-0984820
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(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
3600 N. River Road Franklin Park, IL 60131
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (847) 678-1680
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(Former name or former address, if changed since last report)
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Item 5 -- Other Events
DEAN FOODS COMPANY AMENDS FORM 8-K
TO RECLASSIFY GAIN ON SALE OF NOTE
On December 27, 2000 the Company filed a Form 8-K that included the
Company's press release covering second quarter fiscal year 2001 results. The
press release included a "Condensed Consolidated Statement of Earnings for the
Periods ended November 26, 2000 and November 28, 1999". This earnings statement
included a $6.2 million after-tax gain on the sale of a note shown under the
line item "Gain from sale of discontinued operations, net of taxes."
The Company's independent auditors were consulted with respect to the
classification of this gain as a discontinued operations item prior to filing of
the Form 8-K. In conjunction with the subsequent review of the Company's Form
10-Q for the second quarter, the Company's independent auditors advised that the
gain should be reclassified to continuing operations from discontinued
operations.
The attached "Condensed Consolidated Statement of Earnings for the
Periods ended November 26, 2000 and November 28, 1999" has been revised to
reflect the proper classification of the gain on the sale of the note within
earnings from continuing operations consistent with the treatment in the
Company's Form 10-Q for its fiscal second quarter. There is no other impact on
the financial statements for the quarter and six months ended November 26, 2000
as a result of the reclassification of the gain on the sale of the note.
Dean Foods Company
Condensed Consolidated Statement of Earnings
For the Periods Ended November 26, 2000 and November 28, 1999
(In Millions, Except for Per Share Amounts)
(Unaudited)
<TABLE>
<CAPTION>
Second Quarter Ended Six Months Ended
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November 26, November 28, November 26, November 28,
2000 1999 2000 1999
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<S> <C> <C> <C> <C>
Net sales $ 1,103.5 $1,067.0 $ 2,157.8 $ 2,068.4
Costs of products sold 847.0 828.0 1,648.0 1,590.0
Delivery, selling and administrative expenses 199.8 182.6 394.3 365.2
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Operating earnings 56.7 56.4 115.5 113.2
Interest expense, net of interest income 18.6 12.1 34.7 23.3
Gain on sale of note 10.0 - 10.0 -
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Income before income taxes 48.1 44.3 90.8 89.9
Provision for income taxes 18.3 17.3 34.6 35.1
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Net income $ 29.8 $ 27.0 $ 56.2 $ 54.8
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Net income per share:
Basic $ .84 $ .69 $ 1.58 $ 1.40
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Diluted $ .84 $ .68 $ 1.58 $ 1.38
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Weighted average common shares:
Basic 35.5 39.1 35.5 39.2
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Diluted 35.7 39.8 35.7 39.8
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</TABLE>
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dean Foods Company
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(Registrant)
Date: January 12, 2001 /s/ Barbara A. Klein
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Barbara A. Klein
Vice President Finance and
Chief Financial Officer
