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July 31, 2015 5:25 AM ET

Food Products

Company Overview of Michael Foods, Inc.

Company Overview

Michael Foods, Inc. processes and distributes food products for customers in the United States and internationally. The company offers organic and cage free eggs, potatoes, refrigerated grocery products, and French toast for commercial restaurants, convenience stores, lodging and recreation, business and industry, k-12 schools, college and university, healthcare, and military sectors. It also provides patties, omelets, scrambled, extended shelf life eggs, low/no products, quiche mix, frittatas, refrigerated potatoes, organic/cage free certified eggs, liquid and frozen eggs, and dried eggs for bakery, dry mixes, confectionary, sauces and dressings, prepared food, pasta, dairy, beverages, and ...

301 Carlson Parkway

Suite 400

Minnetonka, MN 55305

United States

Founded in 1908

3,513 Employees

Phone:

952-258-4000

Fax:

952-258-4911

Key Executives for Michael Foods, Inc.

Chairman, Chief Executive Officer and President
Age: 56
Chief Financial Officer, Principal Accounting Officer and Senior Vice President
Age: 49
Senior Vice President of Operations and Supply Chain
Age: 58
President of Crystal Farms Division
Age: 54
Vice President and General Counsel
Age: 57
Compensation as of Fiscal Year 2015.

Michael Foods, Inc. Key Developments

Michael Foods Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended September 30, 2014

Michael Foods reported unaudited earnings results for the fourth quarter and full year ended September 30, 2014. Net sales (including intersegment sales) were $534.3 million for the fourth quarter, and on a comparable basis, were up 9.7%, or $47.4 million, over the same period in 2013, with volume up 8.0%. Profit and adjusted EBITDA were $29.9 million and $64.9 million, respectively. Profit for the fourth quarter was negatively impacted by an inventory adjustment of $1.1 million resulting from acquisition accounting. For the year 2014, net sales (including intersegment sales) were $684.8 million. Profit and adjusted EBITDA for the fiscal year were $17.4 million and $79.5 million, respectively. Profit for the fiscal year was negatively impacted by an inventory adjustment of $16.9 million resulting from acquisition accounting.

Michael Foods Group, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 30, 2014

Michael Foods Group, Inc. announced unaudited consolidated earnings results for the first quarter ended March 30, 2014. For the quarter, the company reported net sales of $474,039,000 compared to $484,271,000 a year ago. Operating profit was $24,475,000 compared to $43,940,000 a year ago. Earnings before income taxes and equity in losses of unconsolidated subsidiary were $2,741,000 compared to $21,740,000 a year ago. Net earnings were $1,694,000 compared to $14,243,000 a year ago. Earnings before interest, taxes, depreciation, amortization and other adjustments were $48.2 million, compared to $67.2 million in 2013.

Michael Foods Begins Construction of Two-Phase Expansion at Wakefield Plant

Michael Foods has begun construction of a $33 million two-phase expansion project at the company's Wakefield, Nebraska, farm and processing plant. The project includes expansion of the facilities, as well as the installation of new equipment. The project's first phase involves an increase in total square footage at the plant by about 75,000 square feet, including additions in production, refrigerated space, finished goods space and egg storage. Two new food production equipment lines also will be installed. The second phase includes renovation of existing spaces and relocation of two food production equipment lines. Michael Foods also will prepare the site for a potential building addition in the future.

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