SOURCE: Industrial Info Resources

Industrial Info Resources

August 14, 2012 06:30 ET

Sysco Sees Higher Costs Nibble at Sales Growth in Fiscal 2012, Expects $600 Million in Capital Spending in 2013, an Industrial Info News Alert

SUGAR LAND TX--(Marketwire - Aug 14, 2012) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Sysco Corporation (NYSE:SYY) (Houston, Texas), a global leader in the food service and distribution industry, reported improved sales but weaker earnings for fourth-quarter and fiscal year 2012, as climbing product costs and a wobbly economic recovery made waters in the food market tricky to navigate. Net earnings were reported to be $309.27 million for the quarter, an 8.04% decrease from fiscal fourth-quarter 2011, and $1.12 billion for the year, a 2.64% decrease from fiscal 2011. Industrial Info is tracking $161 million in active Sysco projects, including the $40 million construction of a grassroot food distribution center in Riverside, California, and the $19.4 million expansion of a food distribution center in Lincoln, Nebraska.

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