diamond foods inc (DMND) Details
Diamond Foods, Inc., a packaged food company, engages in processing, marketing, and distributing snack products, culinary, in-shell, and ingredient/food service nuts. It provides snack products, including roasted, glazed and flavored nuts, trail mixes, granola, dried fruit, microwave popcorn products, and potato and tortilla chips under the Emerald, Pop Secret, and Kettle Brand names. The company also offers culinary, in-shell, and ingredient nuts under the Diamond of California brand through mass merchandisers and club stores. It markets its culinary nuts to individuals who prepare meals or baked goods at home; and ingredient nuts to food processors, restaurants, bakeries, and food service companies and their suppliers. The company distributes its products directly to national grocery, mass merchandiser, clubs, convenience stores, and drug store chains in the United States, Canada, Europe, and internationally. Diamond Foods, Inc. was founded in 1912 and is based in San Francisco, California.
Last Reported Date: 12/7/12
Founded in 1912
diamond foods inc (DMND) Top Compensated Officers
Chief Executive Officer, President and Non-In...
Total Annual Compensation: $361.2K
Interim Chief Financial Officer and Principal...
Total Annual Compensation: $612.5K
Chief Sales Officer and Executive Vice Presid...
Total Annual Compensation: $424.1K
Chief Marketing Officer and Executive Vice Pr...
Total Annual Compensation: $300.7K
Senior Vice President, General Counsel and Se...
Total Annual Compensation: $284.9K
Compensation as of Fiscal Year 2012.
Diamond Foods, Inc. Announces Auditor Changes
Mar 28 13
Diamond Foods, Inc. announced on March 24, 2013, that the Audit Committee of the Board of Directors approved the dismissal of Deloitte & Touche LLP as the Company’s independent registered public accountant. On March 24, 2013, the Audit Committee of Diamond Foods, Inc. approved the appointment of PricewaterhouseCoopers LLP as the Company’s new independent registered public accounting firm, effective immediately, to perform independent audit services for the fiscal year ending July 31, 2013.
Derivative Action Dismissed by the Court Against Diamond Foods, Inc
Mar 14 13
Diamond Foods, Inc. derivative litigation, C.A. No. 7657-CS, entered an order dismissing the derivative complaint before it. In this case, two derivative plaintiffs, an individual and a pension fund, filed a derivative suit against the directors and officers of Diamond Foods, Inc. The plaintiffs allege that, in a period between October 2010 and June 2012, two defendants, Diamond's former CEO and former CFO, breached their fiduciary duties by engaging in a manipulation of the company's financial statements. Moreover, the plaintiffs asserted actions against the additional defendants, former directors of the company, for failing to try in good faith to ensure that the company operated in compliance with the law. Defendants brought a motion to dismiss or stay the case under the McWane doctrine. First, the California Federal Action filed by the Dual Forum Plaintiffs was dismissed by the Northern District of California for lack of subject matter jurisdiction. The court found that the federal claim asserted therein failed as a matter of law. With the federal claims dismissed, the court found that it had no jurisdiction over the suit and did not consider any of the state law claims. One of those plaintiffs has appealed that decision, but just weeks after noticing the appeal, the plaintiffs filed a nearly identical complaint with the Delaware Court of Chancery, without the federal law claims. Thus, the plaintiffs seek to have the dismissal of the California Federal Action overturned and to proceed in the U.S. District Court for the Northern District of California not only with their federal claims but with the same claims as those asserted in this action.
Diamond Foods, Inc. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended January 31, 2013
Mar 11 13
Diamond Foods, Inc. reported consolidated earnings results for the second quarter and six months ended January 31, 2013. For the quarter, the company reported income from operations was $24,634,000, income before income taxes was $10,403,000, net income of $10,141,000 or $0.43 diluted per share on net sales of $220,844,000 against loss from operations was $16,111,000, loss before income taxes was $22,582,000, net loss of $20,184,000 or $0.93 diluted loss per share on net sales of $262,351,000 for the same period a year ago. Non-GAAP loss before income taxes was $1,569,000, net income of $1,142,000 or $0.05 diluted per share against Non-GAAP income before income taxes was $219,000, net income of $233,000 or $0.01 diluted per share for the same period a year ago. Adjusted EBITDA was $22,948,000 against $16,555,000 for the same period a year ago. Capital expenditures were $1.6 million for the second quarter of fiscal 2013.
For the six months, the company reported income from operations was $28,438,000, income before income taxes was $295,000, net loss of $588,000 or $0.03 diluted loss per share on net sales of $479,306,000 against loss from operations was $14,189,000, loss before income taxes was $26,421,000, net loss of $9,383,000 or $0.43 diluted loss per share on net sales of $549,744,000 for the same period a year ago. Non-GAAP income before income taxes was $6,661,000, net income of $6,291,000 or $0.26 diluted per share against Non-GAAP income before income taxes was $15,610,000, net income of $16,578,000 or $0.75 diluted per share for the same period a year ago. Adjusted EBITDA was $53,950,000 against $46,352,000 for the same period a year ago.