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Flowers Foods
built 228 days ago
Headquartered in Thomasville, Ga., Flowers Foods is one of the nation's leading producers and marketers of packaged bakery foods for retail and foodservice customers. Flowers operates 36 bakeries that produce a wide range of bakery products marketed throughout the Southeastern, Southwestern, and mid-Atlantic states via an extensive direct-store-delivery network and nationwide through other delivery systems. Among the company's top brands are Nature's Own, Cobblestone Mill, Sunbeam, Blue Bird, and Mrs. Freshley's. For more information, visit www.flowersfoods.com.
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Flowers Foods issued a guidance for the full year of 2007, indicating that earnings per share from continuing operations are expected to be 98 cents to $1.02 per share. Five out of seven covering analysts have pegged current forecasts at $1.00, versus last months 98 cents.
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THOMASVILLE, Ga., Jan. 14 /PRNewswire-FirstCall/ -- Flowers Foods (NYSE: FLO) today announced that it purchased a bakery building in Suwanee, Ga., from The Schwan Food Company. Terms of the transaction were not disclosed. Flowers built the bakery and adjacent freezer in 1999 and 1996 respectively and then sold the property to Schwan in 2003 as part of the sale of the Mrs. Smith's business. Since 2003, Flowers has operated the bakery under the terms of a building lease with Schwan. Following the close of the transaction, Flowers will continue to produce hearth-baked buns, rolls and bagels in the Suwanee bakery facility for retail and foodservice customers. In a separate transaction, Schwan sold the adjacent freezer facility to CPA(R): 16 - Global, a REIT affiliate of investment firm W. P. Carey & Co. LLC (NYSE: WPC).
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Further, Flowers Foods tightened its full year sales forecast to the range of $2.020 billion - $2.040 billion, excluding future acquisitions, representing an increase of 7% - 8% from last year. The company's previous projection was sales of $1.983 - $2.040 billion, excluding any future acquisitions. Wall Street consensus is $2.02 billion. Analysts estimate sales of $2.02 billion for the fiscal year.
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Flowers Foods surprised the Street late last month, when it reported Q4 EPS of 23 cents and revenues of $473.7 million. Analysts had been expecting 21 cents and $468.8 million. Management ... guided FY08 EPS to $1.07-$1.17 ($1.12 consensus) and FY08 revenues to $2.21-$2.258 billion ($2.2B consensus).
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Flowers Foods flurry of betterforyou product launches began at the onset of carbohydrate mania. Although the Atkins Diet has been around for 30 years, not many in the baking industry predicted its impact on the bread aisle in 2003. Flowers Foods... did.
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Flowers Foods