Press release article from our research archive:

SYSCO Reports 8 Percent EPS Growth on 12 Percent Sales Increase for FY 1999 Second Quarter.

HOUSTON, Jan. 13 /PRNewswire/ -- SYSCO Corporation (NYSE: SYY) today reported that basic and diluted earnings per share increased 8.3 percent to $0.26 for the fiscal 1999 second quarter ended December 26, 1998. For the same period last year, earnings per share were $0.24 before a one-time charge of $28 million taken to comply with a ruling of the Financial Accounting Standards Board. Sales for the second quarter were $4.2 billion, an increase of 12 percent above sales of $3.8 billion in the second quarter of fiscal 1998. Net earnings reached $86.4 million, which was 3 percent more than last year's second quarter net income of $83.6 million before the accounting change. ...

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