The WhiteWave Foods Company (NYSE:WWAV) is looking for acquisition opportunities. Chairman and Chief Executive of WhiteWave Foods, Gregg Engles said that WhiteWave will look for some mergers and acquisitions activity in the future. He said, “We'll be looking to expand our business with businesses of similar character”.

The WhiteWave Foods Company reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, total net sales were $608.244 million against $522.730 million a year ago. Income before income taxes was $37.489 million against $47.094 million a year ago. Net income was $23.998 million or $0.14 per diluted share against $31.308 million or $0.21 per diluted share a year ago. Operating income was $41.993 million against $56.211 million a year ago. Adjusted operating income was $47.472 million against $39.446 million a year ago. Adjusted income before income taxes was $42.991 million against $33.325 million a year ago. Adjusted net income was $27.604 million or $0.16 per diluted share against $22.991 million or $0.13 per diluted share a year ago. Based upon forecasted sales growth, combined with continued progress on cost efficiency initiatives, management anticipates an adjusted total operating income growth rate in the low to mid-teens for the second quarter 2013. The company expects adjusted diluted earnings of between $0.14 to $0.16 per share. On a full year basis for 2013, the company expects an adjusted total operating income growth rate in the mid-teens, in line with its previous guidance. The company continues to estimate approximately $55 million in corporate costs and capital expenditures in a range of $150 million to $160 million, consistent with its prior estimates. Management now anticipates a tax rate of between 34 and 35% for full year 2013. WhiteWave continues to expect adjusted diluted earnings per share of between $0.68 and $0.72.

The WhiteWave Foods Company, Q1 2013 Earnings Call, May 09, 2013