Originally published at www.seclive.com
Filing in Focus: Annie's, Inc. 8-K, May 29, 2014
Annie's, Inc. (NYSE:BNNY) announced its financial results for the fourth quarter and full fiscal year 2013, posting improvements in sales but disappointing earnings results. Quarterly net sales increased from $52.1M last year to $60.1M this quarter while annual net sales improved from $169.5M in 2013 to $204.1M this year. Net income for the quarter rose from the year-ago $3.9M and $0.22 per share to $5.1M and $0.29 per share while annual earnings increased from $11.3M and $0.64 per share to $15.3M and $0.88 per share. The company was pleased with its top-line revenue performance thanks to continued strong performance in business development though net income was not quite up to expectations due primarily to input costs, specifically organic wheat.
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