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SunOpta Announces Record Third Quarter and Year-to-Date Earnings

SunOpta Announces Record Third Quarter and Year-to-Date Earnings

TORONTO, Nov. 6, 2012 (GLOBE NEWSWIRE) -- SunOpta Inc. ("SunOpta" or the
"Company") (Nasdaq:STKL) (TSX:SOY), a leading global company focused on
natural, organic and specialty foods, today announced financial results for
the third quarter ended September 29, 2012. All amounts are expressed in U.S.
dollars and results are reported in accordance with U.S. GAAP, except where
specifically noted.

Third Quarter 2012 Highlights:

  *Revenues increased to $279.3 million, an increase of 8.7% versus Q3 2011
  *Operating income increased to $12.7 million, an increase of 72% versus Q3
    2011
  *Operating margin increased to 4.5% of revenues versus 2.9% in Q3 2011
  *Earnings of $5.8 million, an increase of 72% versus Q3 2011 and a record
    for the Company
  *Earnings per diluted common share increased to a record $0.09 versus $0.05
    in Q3 2011
  *EBITDA increased to $17.8 million, an increase of 50.5% versus Q3 2011

"We are very pleased with our third quarter financial results, reflecting
higher revenues and a 72% increase in both operating income and earnings
versus the prior year," commented Steve Bromley, SunOpta's Chief Executive
Officer. "We continue to execute on our core strategies focused on
streamlining our organization, growing our value-added packaged foods and
ingredients portfolio, and leveraging our existing platform. We are pleased
with our progress to-date and remain confident in our opportunities to grow
our global integrated natural and organic foods platform."

Third Quarter 2012 Results

Revenues for the third quarter increased 8.7% to $279.3 million as compared to
$257.0 million in the third quarter of 2011. Excluding the impact of changes
including foreign exchange rates, commodity-related pricing, acquisitions and
rationalized product lines, revenues increased approximately 6% on a
consolidated basis versus the prior year. The increase in consolidated
revenues in the third quarter was driven by strong growth across integrated
grains-based food product categories within SunOpta Foods and higher sales
within Opta Minerals Inc. as a result of recent acquisitions. These increases
were somewhat offset by the effect of lower fiber and fruit ingredients sales
and decreased revenues in the Company's European organic ingredients
operation.

Operating income^1 increased 72.4% to $12.7 million, or 4.5% of revenues, for
the third quarter of 2012 as compared to $7.4 million, or 2.9% of revenues,
for the same period last year. This increase was led by a significant
improvement in operating income in the Grains and Foods Group versus the prior
year as a result of increased volumes of aseptically packaged grains-based
beverages and strong organic grains and feedstuff sales, as well as
significantly improved results in Opta Minerals and reduced selling, general
and administrative costs due in part to streamlining and rationalizations
completed over the past year.

Earnings for the third quarter of 2012 were $5.8 million, or $0.09 per diluted
common share, as compared to $3.4 million, or $0.05 per diluted common share,
for the third quarter of 2011. These earnings are a third quarter record for
the Company after excluding certain non-recurring items in prior years. Third
quarter earnings include the impact of approximately $0.9 million in pre-tax
severance, acquisition and start-up costs ($0.5 million after-tax).

For the quarter ended September 30, 2012, the Company realized EBITDA^1 of
$17.8 million as compared to $11.9 million for the third quarter of 2011, a
year-over-year increase of 50.5%.

The effective tax rate for the third quarter of 2012 was 39.1% as compared to
27.3% in the third quarter of 2011. The increase in the effective tax rate is
primarily a result of increased earnings in higher tax jurisdictions in 2012
and the net effect of certain tax credits that were realized in the third
quarter of 2011.

Year-to-Date 2012 Results

For the first three quarters of 2012 revenues increased 5.6% to $821.0 million
versus revenues of $777.5 million in the same period last year. Excluding the
impact of changes including foreign exchange rates, commodity-related pricing,
acquisitions and rationalized product lines, revenues increased approximately
5% on a consolidated basis. The increase in consolidated revenues for the
first three quarters was driven by strong growth within integrated packaged
food product categories and higher sales within Opta Minerals Inc. as a result
of recent acquisitions. Those increases were somewhat offset by the effect of
lower fiber and fruit ingredients sales and decreasedrevenues in the
Company's European organic ingredients operation.

Operating income^1 for the first three quarters increased to $39.8 million, or
4.9% of revenues, versus $28.9 million, or 3.7% of revenues, in the prior
year, a year-over-year increase of 37.9%. This increase was primarily led by
improved operating income in the Grains and Foods Group and Opta Minerals
versus the prior year.

For the three quarters ended September 29, 2012, the Company reported earnings
of $19.8 million, or $0.30 per diluted common share, as compared to earnings
of $12.8 million, or $0.19 per diluted common share, for the same period last
year, a year-over-year increase of 54.4%. Excluding discontinued operations,
earnings were $18.6 million, or $0.28 per diluted common share, versus $14.8
million, or $0.22 per diluted common, share in the prior year. Included in
earnings for the first three quarters of 2012 were approximately $3.1 million
in pre-tax severance, acquisition and start-up costs ($1.9 million after-tax),
offset by a $0.7 million after-tax gain on the sale of Purity Life Natural
Health Products and approximately $0.5 million in tax adjustments that lowered
the Company's effective tax rate.

The effective tax rate for the first three quarters of 2012 was 34.0% as
compared to 35.2% in 2011.

For the first three quarters of 2012, the Company realized EBITDA^1 of $54.8
million as compared to $42.2 million for the nine months ended October 1,
2011, a year-over-year increase of 29.7%.

Balance Sheet

The Company's balance sheet remains strong, and shareholders' equity increased
to $320.2 million as of September 29, 2012. At the end of the third quarter of
2012, the Company's balance sheet reflects a current ratio of 1.51 to 1.00,
and a total debt to equity ratio of 0.52 to 1.00. At September 29, 2012, the
Company had total debt outstanding of $165.0 million, total assets of $669.3
million and a net book value of $4.85 per outstanding share. For the first
three quarters of 2012, the Company generated cash from operating activities
of $38.0 million versus cash used in operating activities of $2.7 million in
the prior year, indicative of improved earnings and improved cash provided by
working capital.

Conference Call Information

The Company plans to host a conference call at 10:00 AM Eastern Time on
Wednesday, November 7, 2012 to discuss the third quarter financial results and
recent corporate developments. After opening remarks, there will be a question
and answer period. This conference call can be accessed via a link at the
Company's website at www.sunopta.com. To listen to the live call over the
Internet, please go to the Company's website at least 15 minutes early to
register, download and install any necessary audio software. Additionally, the
call may be accessed with the toll free dial-in number (877) 312-9198 or
international dial-in number (631) 291-4622. If you are unable to listen live,
the conference call will be archived and can be accessed for approximately 90
days at the Company's website.

^1See discussion of non-GAAP measures

About SunOpta Inc.

SunOpta Inc. is a leading global company focused on natural, organic and
specialty foods products.The Company specializes in sourcing, processing and
packaging of natural and organic food products, integrated from seed through
packaged products; with a focus on strategically vertically integrated
business models.The Company's core natural and organic food operations focus
on value-added grains, fiber and fruit based product offerings, supported by a
global infrastructure.The company has two non-core holdings, a 66.2%
ownership position in Opta Minerals Inc., listed on the Toronto Stock
Exchange, a producer, distributor, and recycler of environmentally friendly
industrial materials; and a minority ownership position in Mascoma
Corporation, an innovative biofuels company.

The SunOpta Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3958

Forward Looking Statements

Certain statements included in this press release may be considered
"forward-looking statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian securities
legislation, which are based on information available to us on the date of
this release. These forward-looking statements include, but are not limited
to, our continued focus on our core strategies and opportunities to grow our
global integrated natural and organic foods platform. The terms and phrases
"continue", "remain confident", "improve" and "execute", and other similar
terms and phrases are intended to identify these forward looking
statements.Forward looking statements are based on information available to
us on the date of this release and are based on estimates and assumptions made
by the Company in light of its experience and its perception of historical
trends, current conditions and expected future developments as well as other
factors the Company believes are appropriate in the circumstances including,
but not limited to, general economic conditions, consumer interest in health
and wellness, product pricing levels, current customer demand, planned
facility and operational expansions, competitive intensity, cost
rationalization and product development initiatives. Whether actual timing and
results will agree with expectations and predications of the Company is
subject to many risks and uncertainties including, but not limited to, global
economic conditions, consumer spending patterns and changes in market trends,
decreases in customer demand, potential failure of product development,
working capital management and continuous improvement initiatives,
availability and pricing of raw materials and supplies, and other risks
described from time to time under "Risk Factors" in the Company's Annual
Report on Form 10-K and its Quarterly Reports on Form 10-Q (available at
www.sec.gov).Consequently all forward-looking statements made herein are
qualified by these cautionary statements and there can be no assurance that
the actual results or developments anticipated by the Company will be
realized.

                                                                          
                                                                          
SunOpta Inc.                                                               
Consolidated Statements of Operations                                      
For the quarter ended September 29, 2012 and October 1, 2011               
Unaudited                                                                  
(Expressed in thousands of U.S. dollars, except per share amounts)         
                            Quarter ended Quarter ended   
                            September 29, October 1, 2011 Change
                                   2012
                                  $             $               %
                                                           
Revenues                           279,339     257,011       8.7%
                                                              
Cost of goods sold                 246,158     226,990       8.4%
                                                              
Gross profit                       33,181      30,021        10.5%
                                                        
Selling, general and               19,395      20,591        -5.8%
administrative expenses
Intangible asset amortization      1,225       1,045         17.2%
Other expense, net                 264         7             3671.4%
Foreign exchange (gain) loss       (130)        1,022         -112.7%
                                                        
Earnings from continuing           12,427       7,356          68.9%
operations before the following
                                                              
Interest expense, net              2,339       2,033         15.1%
                                                        
Earnings from continuing           10,088       5,323         89.5%
operations before income taxes
                                                        
Provision for income taxes         3,947        1,451         172.0%
                                                        
Earnings from continuing           6,141        3,872          58.6%
operations
                                                        
Discontinued operations                                       
Earnings (loss) from discontinued  112         (433)          n/a
operations, net of taxes
Gain on sale of discontinued       --          71            n/a
operations, net of taxes
                                                        
Earnings (loss) from discontinued  112         (362)          130.9%
operations, net of taxes
                                                              
Earnings                           6,253        3,510          78.1%
                                                        
Earnings attributable to           449          144            211.8%
non-controlling interests
                                                        
Earnings attributable to SunOpta   5,804        3,366          72.4%
Inc.
                                                        
Earnings (loss) per share - basic                              
-from continuing operations        0.09         0.06          
-from discontinued operations      --          (0.01)         
                                  0.09         0.05           
                                                              
Earnings (loss) per share -                                    
diluted
-from continuing operations        0.09         0.06          
-from discontinued operations      --          (0.01)         
                            0.09         0.05           



SunOpta Inc.
Consolidated Statements of Operations 
For the three quarters ended September 29, 2012 and October 1, 2011
Unaudited
(Expressed in thousands of U.S. dollars, except per share amounts)
                                   Three quarters     Three quarters  
                                    ended              ended
                                  September 29, 2012 October 1, 2011 Change
                                  $                  $               %
                                                                   
Revenues                            820,975          777,549       5.6%
                                                                    
Cost of goods sold                  716,220          682,916       4.9%
                                                                    
Gross profit                        104,755          94,633        10.7%
                                                                    
Selling, general and administrative 61,911           61,497        0.7%
expenses
Intangible asset amortization       3,653            3,078         18.7%
Other expense (income), net         2,006            (2,887)        169.5%
Foreign exchange (gain) loss        (629)             1,176         -153.5%
                                                                    
Earnings from continuing operations 37,814           31,769        19.0%
before the following
                                                                    
Interest expense, net               7,480            6,537         14.4%
                                                                    
Earnings from continuing operations 30,334           25,232         20.2%
before income taxes
                                                                    
Provision for income taxes          10,302           8,875          16.1%
                                                                   
Earnings from continuing operations 20,032           16,357         22.5%
                                                                   
Discontinued operations                                              
Earnings (loss) from discontinued   517              (2,057)        n/a
operations, net of taxes
Gain on sale of discontinued        676              71             n/a
operations, net of taxes
                                                                    
Earnings (loss) from discontinued   1,193            (1,986)        160.1%
operations, net of income taxes
                                                                   
Earnings                            21,225            14,371         47.7%
                                                                   
Earnings attributable to            1,384             1,523          -9.1%
non-controlling interests
                                                                   
Earnings attributable to SunOpta    19,841            12,848         54.4%
Inc.
                                                                    
Earnings (loss) per share – basic                                    
-from continuing operations         0.28             0.23           
-from discontinued operations       0.02             (0.03)         
                                   0.30             0.20           
                                                                    
Earnings (loss) per share – diluted                                  
-from continuing operations         0.28             0.22          
-from discontinued operations       0.02             (0.03)         
                                   0.30             0.19           
                                                                   

                                                       
SunOpta Inc.                                            
Consolidated Balance Sheets                             
As at September 29, 2012 and December                   
31, 2011
Unaudited                                               
(Expressed in thousands of U.S. dollars, except per share amounts)          
                                    September 29, 2012 December 31, 2011
                                    $                  $
                                                    
ASSETS                                                  
                                                     
Current assets                                          
Cash and cash equivalents             4,187            2,378
Accounts receivable                   115,979          88,898
Inventories                           224,556          228,455
Prepaid expenses and other current    22,851           21,378
assets
Current income taxes recoverable      1,106            1,503
Deferred income taxes                 4,946            4,773
Current assets held for sale          --               17,923
                                     373,625           365,308
                                                       
Investments                           33,845           33,845
Property, plant and equipment         135,709          120,584
Goodwill                              57,008           49,387
Intangible assets                     54,416           48,035
Deferred income taxes                 12,435           11,751
Other assets                          2,270            1,854
Non-current assets held for sale      --               739
                                                    
                                    669,308          631,503
                                                       
LIABILITIES                                             
                                                       
Current liabilities                                     
Bank indebtedness                     111,237          109,718
Accounts payable and accrued          118,928          114,308
liabilities
Customer and other deposits           3,493            843
Income taxes payable                  3,117            1,229
Other current liabilities             3,809            1,419
Current portion of long-term debt     5,924            35,198
Current portion of long-term          569              995
liabilities
Current liabilities held for sale     --               5,920
                                    247,077           269,630
                                                       
Long-term debt                        47,836           17,066
Long-term liabilities                 6,586            5,586
Deferred income taxes                 30,689           24,273
                                     332,188          316,555
                                                    
                                                       
EQUITY                                                  
SunOpta Inc. shareholders' equity                       
Capital Stock                         182,916          182,108
65,977,814 common shares (December                      
31, 2011 - 65,796,398)
Additional paid in capital            16,147           14,134
Retained earnings                     120,349          100,508
Accumulated other comprehensive       795              2,382
income
                                     320,207          299,132
Non-controlling interest              16,913           15,816
Total equity                          337,120          314,948
                                                       
                                     669,308          631,503

                                                         
                                                         
SunOpta Inc.                                              
Consolidated Statements of Cash Flows                     
For the quarter ended September 29,                       
2012 and October 1, 2011
Unaudited                                                 
(Expressed in thousands of U.S. dollars, except per share amounts)          
                                      Quarter ended      Quarter ended
                                      September 29, 2012 October 1, 2011
                                       $                  $
                                                      
Cash provided by (used in)                                
                                                      
Operating activities                                      
Earnings                                6,253            3,510
Earnings (loss) from discontinued       112              (362)
operations
Earnings from continuing operations     6,141            3,872
                                                      
Items not affecting cash                                  
Depreciation and amortization           5,155            4,497
Unrealized gain on foreign exchange     (76)              (991)
Deferred income taxes                   (639)             1,114
Stock-based compensation                713              555
Loss on sale of property, plant and     --               584
equipment
Unrealized (gain) loss on derivative    (3,075)           646
instruments
Other                                   508              375
Changes in non-cash working capital,    7,462            990
net of business acquired
Net cash flows from operations -        16,189           11,642
continuing operations
Net cash flows from operations -        313              (903)
discontinued operations
                                      16,502           10,739
Investing activities                                      
Acquisition of business, net of cash    (11,644)          (2,500)
acquired
Purchases of property, plant and        (5,709)           (6,082)
equipment
Payment of contingent consideration     (61)              --
Purchases of intangible assets          (56)              --
Other                                   122              411
Net cash flows from investing           (17,348)          (8,171)
activities - continuing operations
Net cash flows from investing           --               (318)
activities - discontinued operations
                                       (17,348)          (8,489)
Financing activities                                      
Increase in line of credit facilities   56,959           4,759
Repayment of line of credit facilities  (45,295)          --
Borrowings under long-term debt         15,234           1,875
Repayment of long-term debt             (24,136)          (6,697)
Financing costs                         (1,315)           --
Proceeds from the issuance of common    257              242
shares
Other                                   53               (19)
Net cash flows from financing           1,757            160
activities - continuing operations
                                                         
Foreign exchange gain (loss) on cash    29               (457)
held in a foreign currency
                                                         
Increase in cash and cash equivalents   940              1,953
during the period
                                                         
Discontinued operations cash activity                     
included above:
Add:Balance included at beginning of   --               212
period
                                                         
Cash and cash equivalents - beginning   3,247            5,361
of the period
                                                         
Cash and cash equivalents - end of the  4,187            7,526
period

                                                         
                                                         
                                                         
SunOpta Inc.                                              
Consolidated Statements of Cash Flows                     
For the three quarters ended September                    
29, 2012 and October 1, 2011
Unaudited                                                 
(Expressed in thousands of U.S. dollars, except per share amounts)          
                                       Three quarters     Three quarters
                                        ended              ended
                                       September 29, 2012 October 1, 2011
                                      $                  $
                                                      
Cash provided by (used in)                                
                                                      
Operating activities                                      
Earnings                                21,225           14,371
Earnings (loss) from discontinued       1,193            (1,986)
operations
Earnings from continuing operations     20,032           16,357
                                                      
Items not affecting cash                                  
Depreciation and amortization           14,946           13,354
Unrealized gain on foreign exchange     (169)             (22)
Deferred income taxes                   3,077            5,835
Stock-based compensation                2,041            1,536
Gain on sale of property, plant and     --               (3,240)
equipment
Unrealized gain on derivative           (1,178)           (3,272)
instruments
Other                                   1,217            310
Changes in non-cash working capital,    (1,921)           (31,903)
net of business acquired
Net cash flows from operations -        38,045           (1,045)
continuing operations
Net cash flows from operations -        (3)               (1,638)
discontinued operations
                                      38,042           (2,683)
Investing activities                                      
Acquisition of businesses, net of cash  (29,174)          (2,500)
acquired
Purchases of property, plant and        (17,623)          (15,256)
equipment
Proceeds on sale of property, plant and --               2,773
equipment
Payment of contingent consideration     (388)             --
Purchases of intangible assets          (81)              (67)
Other                                   (84)              (30)
Net cash from investing activities -    (47,350)          (15,080)
continuing operations
Net cash flows from investing           12,134           (388)
activities - discontinued operations
                                      (35,216)          (15,468)
Financing activities                                      
Increase in line of credit facilities   46,434           33,186
Repayment of line of credit facilities  (45,296)          --
Borrowings under long-term debt         34,607           1,912
Repayment of long-term debt             (34,959)          (13,423)
Financing costs                         (2,490)           (186)
Proceeds from the issuance of common    680                989
shares
Other                                   24               802
Net cash from financing activities -    (1,000)           23,280
continuing operations
                                                      
Foreign exchange gain (loss) on cash    (17)              (246)
held in a foreign currency
                                                      
                                                         
Increase in cash and cash equivalents   1,809            4,883
during the period
                                                      
Discontinued operations cash activity                     
included above:
Add:Balance included at beginning of   --               308
period
                                                      
Cash and cash equivalents - beginning   2,378            2,335
of the period
                                                         
Cash and cash equivalents - end of the  4,187            7,526
period




SunOpta Inc.
Segmented Information
For the quarter endedSeptember 29, 2012 and October 1, 2011
Unaudited
(Expressed in thousands of U.S. dollars)

Quarter ended
September 29, 2012
                 SunOpta              Corporate     
                 Foods       Opta      Services      Consolidated
                                Minerals
                   $          $         $             $
         
Total revenues from 246,359   32,980   --         279,339
external customers
                                                
 Segment operating  10,835     3,280    (1,424)   12,691
   income (loss)
                                                
SunOpta Foods has the following segmented reporting:

Quarter ended
September 29, 2012
        Grains               Consumer  International SunOpta
          and
        Foods     Ingredients Products  Foods         Foods
         $         $           $         $             $
Total
revenues
from      139,917 20,273    41,636  44,533      246,359
external
customers
                                                   
Segment
operating 8,780   878       (544)    1,721       10,835
income
(loss)
                                                                     
Quarter ended
October 1, 2011
                  SunOpta              Corporate     
                  Foods       Opta      Services      Consolidated
                                Minerals
                   $          $        $           $
Total revenues from 232,909   24,102 --        257,011
external customers
                                                
 Segment operating  8,563    1,606  (2,806)    7,363
   income (loss)
                                                
SunOpta Foods has the following segmented reporting:

Quarter ended
October 1, 2011
        Grains               Consumer  International SunOpta
          and
         Foods     Ingredients Products  Foods         Foods
         $         $           $         $             $
Total
revenues
from      121,596 21,966    42,066  47,281      232,909
external
customers
                                                
Segment
operating 4,394   2,065     205     1,899       8,563
income
                                                
(Segment operating income (loss) is defined as "Earnings from
continuing operations before the following" excluding the impact of
"Other expense [income], net".)




SunOpta Inc.
Segmented Information
For the three quarters ended September 29, 2012 and October 1, 2011
Unaudited 
(Expressed in thousands of U.S. dollars)


Three quarters ended
September 29, 2012
                  SunOpta              Corporate     
                 Foods       Opta      Services      Consolidated
                                Minerals
                  $          $         $             $
Total revenues from 728,449  92,526 --          820,975
external customers
                                                
 Segment operating  36,423   8,178  (4,781)       39,820
   income (loss)

SunOpta Foods has the following segmented reporting:


Three quarters ended
September 29, 2012
        Grains               Consumer  International SunOpta
          and
         Foods     Ingredients Products  Foods         Foods
        $         $           $         $             $
Total
revenues
from      397,096 62,408    135,879 133,066     728,449
external
customers
                                                
Segment
operating 27,662  2,946     (549)    6,364       36,423
income
(loss)
                                                                        
Three quarters ended
October 1, 2011
                  SunOpta              Corporate     
                  Foods       Opta      Services      Consolidated
                                Minerals
                   $          $         $             $
Total revenues from 707,054  70,495  --           777,549
external customers
                                                
 Segment operating  29,835    6,216   (7,169)      28,882
   income (loss)
                                                   
SunOpta Foods has the following segmented reporting:

Three quarters ended
October 1, 2011
         Grains               Consumer  International SunOpta
          and
        Foods     Ingredients Products  Foods         Foods
         $         $           $         $             $
Total
revenues
from      361,971 71,602    125,757 147,724     707,054
external
customers
                                                
Segment
operating 15,962  6,692     (151)    7,332       29,835
income
(loss)
                                                
(Segment operating income (loss) is defined as "Earnings from
continuing operations before the following" excluding the impact of
"Other expense [income], net".)


^1Non-GAAP Measures

In addition to reporting financial results in accordance with generally
accepted accounting principles ("GAAP"), the Company provides information
regarding Operating Income and Earnings before interest, taxes, depreciation
and amortization ("EBITDA") as additional information about its operating
results, which are not measures in accordance with GAAP.The Company believes
that these non-GAAP measures assist investors in comparing performance across
reporting periods on a consistent basis by excluding items that are not
indicative of the Company's core operating performance.The non-GAAP measures
of Operating Income and EBITDA should not be considered in isolation or as a
substitute for performance measures calculated in accordance with GAAP.

The Company defines Operating Income as "Earnings from continuing operations
before the following" excluding the impact of "Other expense [income], net";
and EBITDA as Operating Income plus depreciation and amortization.The
following is a tabular presentation of Operating Income and EBITDA, including
a reconciliation to GAAP earnings, which the Company believes to be the most
directly comparable GAAP financial measure:

                                         Quarter ended      Quarter ended
                                         September 29, 2012 October 1,
                                                                 2011
                                             $                  $
                                                           
Earnings from continuing operations           6,141            3,872
                                                               
Provision for income taxes                    3,947            1,451
Interest expense, net                         2,339            2,033
Other expense, net                            264              7
Operating income                              12,691           7,363
Depreciation and amortization                 5,155            4,497
Earnings before interest, taxes, depreciation 17,846           11,860
and amortization (EBITDA)
                                                           
                                                           

                                       Three quarters    Three quarters
                                            ended             ended
                                       September 29,     October 1, 2011
                                            2012
                                           $                 $
                                                        
Earnings from continuing operations         20,032          16,357
                                                            
Provision for income taxes                  10,302          8,875
Interest expense, net                       7,480           6,537
Other expense (income), net                 2,006           (2,887)
Operating income                            39,820          28,882
Depreciation and amortization               14,946          13,354
Earnings before interest, taxes,            54,766          42,236
depreciation and amortization (EBITDA)
                                                        

CONTACT: For further information, please contact:
         SunOpta Inc.
         Rob McKeracher, Vice President & CFO
         Susan Wiekenkamp, Information Officer
         Tel: 905-455-2528, ext 103
         susan.wiekenkamp@sunopta.com
         Website:  www.sunopta.com

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