Exhibit 99
Where are we going in fiscal 2002
- We expect revenue growth primarily in pricing
- We expect volume growth from Voila! and Simply Grillin'
- We expect manufacturing cost reductions
- We expect key ratios to improve
Agrilink Foods
(Excluding AgriFrozen Foods)
Certain Selected Historical and Expected Operating Results
2002 2001 2000
Plan Actual Actual
Net Sales $ 1,310.2 $ 1,303.3 $ 1,232.3
Cost of Sales (911.6) (928.8) (857.3)
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Gross Profit - $ $ 398.6 $ 374.5 $ 375.0
% 30.4% 28.7% 30.4%
SG&A Expense (298.5) (293.3) (278.9)
Interest (76.4) (79.8) (78.1)
Gain on Sales 0.0 0.0 6.6
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Profit Before Tax & Pro-Fac Split $ 23.7 1.4 24.6
Dividends $ 8.3 $ 8.0 $ 7.4
Net Proceeds Available to Members $ 3.5 $ 0.0 $ 4.9
EBITDA $ 140.6 $ 121.8 $ 141.7
Capital Expenditures $ 20.0 $ 25.1 $ 25.4
Operating Cash Flow $ 26.7 $ 30.4 $ 34.1
Inventory $ 298.8 $ 313.9 $ 295.3
Consolidated Net Earnings
2002 2001 2000
Plan Actual Actual
Earnings Before Tax $ 23.7 $ 1.4 $ 24.6
Tax Provision (8.1) (1.0) (8.5)
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Net Income 15.6 0.4 16.1
Dividends (8.3) (8.0) (7.4)
--------- --------- ----------
Net Proceeds 7.3 (7.6) 8.7
Allocation (To)/From Earned Surplus (3.8) 7.6 (3.8)
--------- --------- ----------
Distribution to Members $ 3.5 $ 0.0 $ 4.9
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Cash $ 0.9 $ 0.0 $ 1.5
Qualified Retains $ 2.6 $ 0.0 $ 3.4
CMV $ 78.8 $ 69.0 $ 69.6
% of CMV 104.4% 100.0% 107.1%