SunOpta Announces Record 2012 Results

SunOpta Announces Record 2012 Results

TORONTO, March 5, 2013 (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 year ended December 29, 2012. All amounts are expressed in U.S. dollars
and results are reported in accordance with U.S. GAAP, except where
specifically noted.

Fourth Quarter 2012 Highlights:

  *Record revenues of $270.1 million, an increase of approximately 12% versus
    2011
  *Operating income of $7.2 million, an increase of 46% versus 2011
  *Record fourth quarter earnings of $4.4 million versus a loss of $7.6
    million in 2011
  *Earnings per diluted common share of $0.07 versus a loss of $0.11 in 2011

Fiscal 2012 Highlights:

  *Record revenues of $1.091 billion, an increase of approximately 7% versus
    2011
  *Operating income of $47.0 million, an increase of 39% versus 2011
  *Record earnings of $24.2 million, an increase of 357% versus 2011
  *Earnings per diluted common share increased to a record $0.36 versus $0.08
    in 2011

"We are pleased with our fiscal 2012 financial results which reflect both
record revenues and earnings. We continue to execute on our core strategies
focused on growing our value-added packaged foods and ingredients portfolio,
and leveraging our integrated platform," commented Steve Bromley, Chief
Executive Officer. "While our results improved significantly in fiscal 2012,
we will continue to develop our global integrated natural and organic foods
platform in support of our established operating targets. We continue to
believe that healthy eating and healthy living are key long-term global trends
and further believe that we are well positioned to be a key player in these
markets."

Fourth Quarter 2012 Results

Revenues for the fourth quarter increased approximately 12% to $270.1 million
as compared to $242.3 million in the fourth 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 fourth quarter was driven by strong growth across integrated
packaged food product categories within SunOpta Foods, particularly in the
areas of packaged aseptic non-dairy beverages and pouch products, as well as
higher sales within Opta Minerals Inc. as a result of recent acquisitions.

Operating income^1 increased approximately 46% to $7.2 million, or 2.6% of
revenues for the fourth quarter of 2012 as compared to $4.9 million, or 2.0%
of revenues in 2011. This increase was due to a significant improvement in
operating income in the Consumer Products Group versus the prior year as a
result of a decrease in rationalization costs in the Frozen Foods operations
and leveraged selling, general and administrative costs due in part to
streamlining and rationalizations completed over the past year.

Earnings for the fourth quarter of 2012 were $4.4 million, or $0.07 per
diluted common share, as compared to a loss of $7.6 million, or $0.11 per
diluted common share, for the fourth quarter of 2011. Excluding discontinued
operations, earnings during the fourth quarter of 2012 were $4.3 million or
$0.06 per diluted common share, versus $1.4 million or $0.02 per diluted
common share during the fourth quarter of 2011. Fourth quarter 2012 earnings
include the impact of approximately $1.2 million in pre-tax severance,
acquisition, start-up costs ($0.6 million after-tax and minority interest),
offset by approximately $0.6 million in tax adjustments that lowered the
Company's effective tax rate.

For the fourth quarter of 2012 EBITDA^1 increased 33% to $12.4 million as
compared to $9.3 million during the fourth quarter of 2011.

Fiscal 2012 Results

For fiscal 2012 revenues increased 7% to $1.091 billion versus revenues of
$1.020 billion in 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.
The increase in consolidated revenues in 2012 was driven by strong growth
within integrated packaged food product categories and the benefit of
increased prices and higher volume of sales of raw grains in SunOpta Foods, as
well as higher sales within Opta Minerals as a result of recent acquisitions.
These increases were partially offset by the effect of lower fiber and fruit
ingredient sales and decreased revenues in the Company's European organic
ingredients operation.

Operating income^1 for fiscal 2012 increased 39% to $47.0 million or 4.3% of
revenues, versus $33.8 million, or 3.3% of revenues in the prior year. This
increase was primarily due to improved operating income in the Grains and
Foods Group, Consumer Products Group and Opta Minerals versus the prior year.

For fiscal 2012, earnings increased 357% to $24.2 million, or $0.36 per
diluted common share, as compared to earnings of $5.3 million, or $0.08 per
diluted common share in 2011. Excluding discontinued operations, earnings were
$23.0 million or $0.34 per diluted common share, versus $16.2 million, or
$0.24 per diluted common share in 2011.

Fiscal 2012 EBITDA^1 increased 30% to $67.2 million as compared to $51.6
million in fiscal 2011.

Balance Sheet

The Company's balance sheet remains strong, and shareholders' equity increased
to $326.2 million as of December 29, 2012 compared to $299.1 million at
December 31, 2011. At the end of fiscal 2012 the Company's balance sheet
reflects a current ratio of 1.46 to 1.00, and a total debt to equity ratio of
0.58 to 1.00. At December 29, 2012, the Company had total debt outstanding of
$189.3 million, total assets of $707.3 million and a net book value of $4.94
per outstanding share. During fiscal 2012 the Company generated cash from
operating activities of $31.0 million versus cash used in operating activities
of $5.6 million in 2011, indicative of improved earnings and less cash used to
fund working capital.

Conference Call Information

The Company plans to host a conference call at 10:00 A.M. Eastern Time on
Wednesday, March 6, 2013 to discuss the results for the fourth quarter and
year ended2012 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 66.1%
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 focus on our core natural and organic foods business and our belief
that healthy eating and healthy living are key long-term global trends and we
are well positioned to be a key player in these markets. The terms and phrases
"continued", "improve", "will provide", "remain confident", 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, potential covenant breaches under our credit
facilities 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 December 29, 2012 and December 31, 2011
Unaudited
(Expressed in thousands of U.S. dollars, except per share amounts)
                                                                    
                                  Quarter ended     Quarter ended     
                                  December 29, 2012 December 31, 2011 Change
                                  $                 $                 %
                                                                    
Revenues                           270,089           242,322           11.5%
                                                                    
Cost of goods sold                 241,107           215,711           11.8%
                                                                    
Gross profit                       28,982            26,611            8.9%
                                                                    
Selling, general and               20,967            20,679            1.4%
administrative expenses
Intangible asset amortization      1,280             983               30.2%
Other expense, net                 188               55                241.8%
Foreign exchange (gain) loss       (417)             62                -772.6%
                                                                    
Earnings from continuing           6,964             4,832             44.1%
operations before the following
                                                                    
Interest expense, net              1,853             2,302             -19.5%
                                                                    
Earnings from continuing           5,111             2,530             102.0%
operations before income taxes
                                                                    
Provision for income taxes         632               1,021             -38.1%
                                                                    
Earnings from continuing           4,479             1,509             196.8%
operations
                                                                    
Discontinued operations                                              
Loss from discontinued operations, (69)              (8,948)           n/a
net of taxes
Gain on sale of discontinued       132               --                n/a
operations, net of taxes
                                                                    
Gain (loss) from discontinued      63                (8,948)           100.7%
operations, net of taxes
                                                                    
Earnings (loss)                    4,542             (7,439)           161.1%
                                                                    
Earnings attributable to           159               113               40.7%
non-controlling interests
                                                                    
Earnings (loss) attributable to    4,383             (7,552)           158.0%
SunOpta Inc.
                                                                    
Earnings (loss) per share - basic                                    
-from continuing operations        0.07              0.02              
-from discontinued operations      --                (0.14)            
                                  0.07              (0.11)            
                                                                    
Earnings (loss) per share -                                          
diluted
-from continuing operations        0.06              0.02              
-from discontinued operations      --                (0.13)            
                                  0.07              (0.11)            
                                                                    

SunOpta Inc.
Consolidated Statements of Operations
For the year ended December 29, 2012 and December 31, 2011
Unaudited
(Expressed in thousands of U.S. dollars, except per share amounts)
                                                                    
                                  Year ended        Year ended        
                                  December 29, 2012 December 31, 2011 Change
                                  $                 $                 %
                                                                    
Revenues                           1,091,064         1,019,871         7.0%
                                                                    
Cost of goods sold                 957,327           898,627           6.5%
                                                                    
Gross profit                       133,737           121,244           10.3%
                                                                    
Selling, general and               82,878            82,176            0.9%
administrative expenses
Intangible asset amortization      4,933             4,061             21.5%
Other expense (income), net        2,194             (2,832)           177.5%
Foreign exchange (gain) loss       (1,046)           1,238             -184.5%
                                                                    
Earnings from continuing           44,778            36,601            22.3%
operations before the following
                                                                    
Interest expense, net              9,333             8,839             5.6%
                                                                    
Earnings from continuing           35,445            27,762            27.7%
operations before income taxes
                                                                    
Provision for income taxes         10,934            9,896             10.5%
                                                                    
Earnings from continuing           24,511            17,866            37.2%
operations
                                                                    
Discontinued operations                                              
Earnings (loss) from discontinued  448               (11,005)          n/a
operations, net of taxes
Gain on sale of discontinued       808               71                n/a
operations, net of taxes
                                                                    
Earnings (loss) from discontinued  1,256             (10,934)          111.5%
operations, net of taxes
                                                                    
Earnings                           25,767            6,932             271.7%
                                                                    
Earnings attributable to           1,543             1,636             -5.7%
non-controlling interests
                                                                    
Earnings attributable to SunOpta   24,224            5,296             357.4%
Inc.
                                                                    
Earnings (loss) per share – basic                                    
-from continuing operations        0.35              0.25              
-from discontinued operations      0.02              (0.17)            
                                  0.37              0.08              
                                                                    
Earnings (loss) per share –                                          
diluted
-from continuing operations        0.34              0.24              
-from discontinued operations      0.02              (0.16)            
                                  0.36              0.08              
                                                                    

SunOpta Inc.
Consolidated Balance Sheets
As at December 29, 2012 and December 31, 2011
Unaudited
(Expressed in thousands of U.S. dollars)
                                                           
                                          December 29, 2012 December 31, 2011
                                          $                 $
                                                           
Assets                                                      
                                                           
Current assets                                              
Cash and cash equivalents                  6,840             2,378
Restricted cash                            6,595             --
Accounts receivable                        113,314           88,898
Inventories                                255,738           228,455
Prepaid expenses and other current assets  20,538            21,378
Current income taxes recoverable           1,814             1,503
Deferred income taxes                      2,653             4,773
Current assets held for sale               --                17,923
                                          407,492           365,308
                                                           
Investments                                33,845            33,845
Property, plant and equipment              140,579           120,584
Goodwill                                   57,414            49,387
Intangible assets                          52,885            48,035
Deferred income taxes                      12,879            11,751
Other assets                               2,216             1,854
Non-current assets held for sale           --                739
                                                           
                                          707,310           631,503
                                                           
Liabilities                                                 
                                                           
Current liabilities                                         
Bank indebtedness                          131,061           109,718
Accounts payable and accrued liabilities   128,544           114,308
Customer and other deposits                4,734             843
Income taxes payable                       4,125             1,229
Other current liabilities                  2,660             1,419
Current portion of long-term debt          6,925             35,198
Current portion of long-term liabilities   1,471             995
Current liabilities held for sale          --                5,920
                                          279,520           269,630
                                                           
Long-term debt                             51,273            17,066
Long-term liabilities                      5,544             5,586
Deferred income taxes                      27,438            24,273
                                          363,775           316,555
                                                           
                                                           
Equity                                                      
SunOpta Inc. shareholders' equity                           
Capital Stock                              183,027           182,108
66,007,236 common shares (December 31,                      
2011 - 65,796,398)
Additional paid in capital                 16,855            14,134
Retained earnings                          124,732           100,508
Accumulated other comprehensive income     1,537             2,382
                                          326,151           299,132
Non-controlling interest                   17,384            15,816
Total equity                               343,535           314,948
                                                           
                                          707,310           631,503
                                                           

SunOpta Inc.
Consolidated Statements of Cash Flows
For the quarter ended December 29, 2012 and December 31, 2011
Unaudited
(Expressed in thousands of U.S. dollars)
                                                           
                                          Quarter ended     Quarter ended
                                          December 29, 2012 December 31, 2011
                                          $                 $
                                                           
Cash provided by (used in)                                  
                                                           
Operating activities                                        
Earnings (loss)                            4,542             (7,439)
Earnings (loss) from discontinued          63                (8,948)
operations
Earnings from continuing operations        4,479             1,509
                                                           
Items not affecting cash                                    
Depreciation and amortization              5,280             4,455
Unrealized gain on foreign exchange        --                (246)
Deferred income taxes                      (1,096)           (1,842)
Stock-based compensation                   712               554
Impairment of long-lived assets            --                358
Unrealized loss on derivative instruments  483               4,111
Loss on sale of property, plant and        51                39
equipment
Other                                      (2)               383
Changes in non-cash working capital        (16,917)          (12,266)
Net cash flows from operating activities - (7,010)           (2,945)
continuing operations
Net cash flows from operating activities - (55)              36
discontinued operations
                                          (7,065)           (2,909)
Investing activities                                        
Acquisitions of businesses, net of cash    (870)             (2,961)
acquired
Purchases of property, plant and equipment (6,628)           (1,964)
Increase in restricted cash                (6,595)           --
Proceeds on sale of property, plant and    50                1,755
equipment
Purchases of intangible assets             (47)              9
Payment of contingent consideration        (89)              (233)
Other                                      (352)             (919)
Net cash flows from investing activities - (14,531)          (4,313)
continuing operations
Net cash flows from investing activities - --                (35)
discontinued operations
                                          (14,531)          (4,348)
Financing activities                                        
Increase under line of credit facilities   19,379            3,317
Borrowings under long-term debt            6,573             2,913
Repayment of long-term debt                (1,713)           (4,545)
Financing costs                            (74)              --
Proceeds from the issuance of common       107               166
shares
Other                                      (105)             114
Net cash flows from financing activities - 24,167            1,965
continuing operations
Foreign exchange gain on cash held in a    82                144
foreign currency
Increase (decrease) in cash and cash       2,653             (5,148)
equivalents during the period
Discontinued operations cash activity                       
included above:
Cash and cash equivalents - beginning of   4,187             7,526
the period
Cash and cash equivalents - end of the     6,840             2,378
period
                                                           

SunOpta Inc.
Consolidated Statements of Cash Flows
For the year ended December 29, 2012 and December 31, 2011
Unaudited
(Expressed in thousands of U.S. dollars)
                                                           
                                          Year ended        Year ended
                                          December 29, 2012 December 31, 2011
                                          $                 $
                                                           
Cash provided by (used in)                                  
                                                           
Operating activities                                        
Earnings                                   25,767            6,932
Earnings (loss) from discontinued          1,256             (10,934)
operations
Earnings from continuing operations        24,511            17,866
                                                           
Items not affecting cash                                    
Depreciation and amortization              20,226            17,809
Unrealized gain on foreign exchange        (169)             (268)
Deferred income taxes                      1,981             3,993
Stock-based compensation                   2,753             2,090
Impairment of long-lived assets            --                358
Unrealized (gain) loss on derivative       (695)             839
instruments
Loss (gain) on sale of property, plant and 51                (3,201)
equipment
Other                                      1,215             693
Changes in non-cash working capital        (18,838)          (44,169)
Net cash flows from operating activities - 31,035            (3,990)
continuing operations
Net cash flows from operating activities - (58)              (1,602)
discontinued operations
                                          30,977            (5,592)
Investing activities                                        
Acquisition of businesses, net of cash     (30,044)          (5,461)
acquired
Purchases of property, plant and equipment (24,251)          (17,220)
Increase in restricted cash                (6,595)           --
Proceeds on sale of property, plant and    50                4,528
equipment
Purchases of intangible assets             (128)             (58)
Payment of contingent consideration        (477)             (233)
Other                                      (436)             (949)
Net cash flows from investing activities - (61,881)          (19,393)
continuing operations
Net cash flows from investing activities - 12,134            (423)
discontinued operations
                                          (49,747)          (19,816)
Financing activities                                        
Increase under line of credit facilities   65,813            36,503
Repayment of line of credit facilities     (45,296)          --
Borrowings under long-term debt            59,992            4,825
Repayment of long-term debt                (55,484)          (17,968)
Financing costs                            (2,564)           (186)
Proceeds from the issuance of common       787               1,155
shares
Other                                      (81)              916
Net cash flows from financing activities - 23,167            25,245
continuing operations
Foreign exchange gain (loss) on cash held  65                (102)
in a foreign currency
                                                           
Increase (decrease) in cash and cash       4,462             (265)
equivalents during the period
Discontinued operations cash activity                       
included above:
Add:Balance included at beginning of      --                308
period
Cash and cash equivalents - beginning of   2,378             2,335
the period
Cash and cash equivalents - end of the     6,840             2,378
period
                                                           

SunOpta Inc.
Segmented Information
For the quarter endedDecember 29, 2012 and December 31, 2011
Unaudited
(Expressed in thousands of U.S. dollars)


Quarter ended
December 29, 2012
                             SunOpta             Corporate     
                             Foods       Opta     Services      Consolidated
                                           Minerals
                             $           $        $             $
Total revenues from           235,964     34,125   --            270,089
external customers
Segment Operating             6,488       1,884    (1,220)       7,152
Income (Loss)
                                                             
SunOpta Foods has the
following segmented                                           
reporting:

Quarter ended
December 29, 2012
                     Grains   Ingredients Consumer International SunOpta
                      and                  Products
                     Foods    Group       Group    Foods Group   Foods
                      Group
                     $        $           $        $             $
Total revenues from   127,563  20,136      45,143   43,122        235,964
external customers
Segment Operating     5,134    518         (433)    1,269         6,488
Income (Loss)
                                                             

Quarter ended
December 31, 2011
                             SunOpta             Corporate     
                             Foods       Opta     Services      Consolidated
                                           Minerals
                             $           $        $             $
Total revenues from           219,697     22,625   --            242,322
external customers
Segment Operating             5,123       1,361    (1,597)       4,887
Income (Loss)
                                                             
SunOpta Foods has the
following segmented                                           
reporting:

Quarter ended
December 31, 2011
                     Grains   Ingredients Consumer International SunOpta
                      and                  Products
                     Foods    Group       Group    Foods Group   Foods
                      Group
                     $        $           $        $             $
Total revenues from   117,224  19,472      39,482   43,519        219,697
external customers
Segment Operating     6,851    391         (3,827)  1,708         5,123
Income (Loss)
                                                             
(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 year endedDecember 29, 2012 and December 31, 2011
Unaudited
(Expressed in thousands of U.S. dollars)


Year ended
December 29, 2012
                             SunOpta             Corporate     
                             Foods       Opta     Services      Consolidated
                                           Minerals
                             $           $        $             $
Total revenues from           964,413     126,651  --            1,091,064
external customers
Segment Operating             42,911      10,062   (6,001)       46,972
Income (Loss)
                                                             
SunOpta Foods has the
following segmented                                           
reporting:

Year ended
December 29, 2012
                     Grains   Ingredients Consumer International SunOpta
                      and                  Products
                     Foods    Group       Group    Foods Group   Foods
                      Group
                     $        $           $        $             $
Total revenues from   524,659  82,544      181,022  176,188       964,413
external customers
Segment Operating     32,796   3,464       (982)    7,633         42,911
Income (Loss)
                                                             

Year ended
December 31, 2011
                             SunOpta             Corporate     
                             Foods       Opta     Services      Consolidated
                                           Minerals
                             $           $        $             $
Total revenues from           926,751     93,120   --            1,019,871
external customers
Segment Operating             34,958      7,577    (8,766)       33,769
Income (Loss)
                                                             
SunOpta Foods has the
following segmented                                           
reporting:

Year ended
December 31, 2011
                     Grains   Ingredients Consumer International SunOpta
                      and                  Products
                     Foods    Group       Group    Foods Group   Foods
                      Group
                     $        $           $        $             $
Total revenues from   479,195  91,074      165,239  191,243       926,751
external customers
Segment Operating     22,813   7,083       (3,978)  9,040         34,958
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 (income) expense, net"
and "Goodwill impairment"; 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
                                          December 29, 2012 December 31, 2011
                                          $                 $
                                                           
Earnings from continuing operations        4,479             1,509
                                                           
Provision for income taxes                 632               1,021
Interest expense, net                      1,853             2,302
Other expense, net                         188               55
Operating income                           7,152             4,887
Depreciation and amortization              5,280             4,455
Earnings before interest, taxes,           12,432            9,342
depreciation and amortization (EBITDA)
                                                           
                                                           
                                          Year ended        Year ended
                                          December 29, 2012 December 31, 2011
                                          $                 $
                                                           
Earnings from continuing operations        24,511            17,866
                                                           
Provision for income taxes                 10,934            9,896
Interest expense, net                      9,333             8,839
Other expense (income), net                2,194             (2,832)
Operating income                           46,972            33,769
Depreciation and amortization              20,226            17,809
Earnings before interest, taxes,           67,198            51,578
depreciation and amortization (EBITDA)
                                                           

CONTACT: SunOpta Inc.
         Steve Bromley, CEO
         Robert McKeracher, Vice President & CFO
         Susan Wiekenkamp, Information Officer
         Tel: 905-455-2528, ext 103
         susan.wiekenkamp@sunopta.com
         Website:  www.sunopta.com

SunOpta Inc. Logo