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PBG » Topics » FINANCIAL PERFORMANCE SUMMARY AND WORLDWIDE FINANCIAL HIGHLIGHTS FOR FISCAL YEAR 2007These excerpts taken from the PBG 10-K filed Feb 27, 2008. FINANCIAL
PERFORMANCE SUMMARY AND WORLDWIDE FINANCIAL HIGHLIGHTS FOR
FISCAL YEAR 2007
23
Table of Contents
The impact of foreign currency translation, driven by the
strength of the Canadian Dollar, the Euro, the Turkish Lira and
the Russian Ruble, contributed approximately two percentage
points of growth in worldwide net revenues, cost of sales, gross
profit, and selling, delivery and administrative expenses, and
contributed approximately one percentage point of growth in
worldwide operating income.
Net
revenues – Growth of seven percent driven
primarily by rate increases across all segments.
Cost of
sales – Increase of seven percent primarily
attributable to higher raw material and concentrate costs.
Gross
profit – Growth of seven percent reflected
successful pricing actions which offset higher raw material and
concentrate costs. Consolidation of PR Beverages contributed
less than one percentage point to this growth.
SD&A
expenses – Increase of seven percent driven
primarily by higher operating expenses, specifically in Mexico
and Russia and strategic spending initiatives in the
U.S. & Canada segment for Hydration. The restructuring
charges and FSV Rationalization plan contributed approximately
one percentage point to the increase. Increases in SD&A
expenses were mitigated by cost productivity improvements and
disciplined cost management, primarily in the U.S.
Operating
income – Growth of five percent due to
strong gross profit, partially offset by an increase in
SD&A expenses. Operating income growth benefited by three
percentage points from the accounting for the consolidation of
PR Beverages in our financial results. The restructuring charges
and the FSV Rationalization plan decreased operating income
growth by five percentage points.
Net income and Diluted Earnings
per Share – Growth of two percent reflected
strong worldwide operating income, partially offset by the
year-over-year comparability of tax items. Growth in net income,
coupled with additional share repurchases increased diluted
earnings per share by six percent.
FINANCIAL PERFORMANCE SUMMARY AND WORLDWIDE FINANCIAL HIGHLIGHTS FOR FISCAL YEAR 2007
23 Table of Contents
The impact of foreign currency translation, driven by the strength of the Canadian Dollar, the Euro, the Turkish Lira and the Russian Ruble, contributed approximately two percentage points of growth in worldwide net revenues, cost of sales, gross profit, and selling, delivery and administrative expenses, and contributed approximately one percentage point of growth in worldwide operating income. Net revenues – Growth of seven percent driven primarily by rate increases across all segments. Cost of sales – Increase of seven percent primarily attributable to higher raw material and concentrate costs. Gross profit – Growth of seven percent reflected successful pricing actions which offset higher raw material and concentrate costs. Consolidation of PR Beverages contributed less than one percentage point to this growth. SD&A expenses – Increase of seven percent driven primarily by higher operating expenses, specifically in Mexico and Russia and strategic spending initiatives in the U.S. & Canada segment for Hydration. The restructuring charges and FSV Rationalization plan contributed approximately one percentage point to the increase. Increases in SD&A expenses were mitigated by cost productivity improvements and disciplined cost management, primarily in the U.S. Operating income – Growth of five percent due to strong gross profit, partially offset by an increase in SD&A expenses. Operating income growth benefited by three percentage points from the accounting for the consolidation of PR Beverages in our financial results. The restructuring charges and the FSV Rationalization plan decreased operating income growth by five percentage points. Net income and Diluted Earnings per Share – Growth of two percent reflected strong worldwide operating income, partially offset by the year-over-year comparability of tax items. Growth in net income, coupled with additional share repurchases increased diluted earnings per share by six percent. | EXCERPTS ON THIS PAGE:
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