Dr Pepper Snapple Group Reports First Quarter 2011 Results

Dr Pepper Snapple Group DPS reported first quarter 2011 diluted earnings of $0.50 per share compared to $0.35 per share in the prior year period. Excluding a separation-related foreign deferred tax charge, diluted earnings per share in the prior year period were $0.40. For the quarter, reported net sales increased 7%, reflecting solid volume growth and low-single digit price increases. Revenue recognized under the PepsiCo, Inc. (PepsiCo) and The Coca-Cola Company (Coca-Cola) licensing agreements and the favorable impact of repatriated brands added 3 percentage points to net sales growth. Reported segment operating profit (SOP) increased 1% reflecting net sales growth and ongoing supply chain productivity benefits partially offset by higher packaging, ingredient and transportation costs and a $14 million increase in marketing. Foreign currency added one percentage point to net sales and SOP growth. Reported income from operations for the quarter was $202 million compared to $187 million in the prior year period.