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Dean Foods Company Message Board

  • walk57 walk57 Jan 10, 2013 8:48 AM Flag

    SEC Filing

    Yesterdays SEC filing was interesting.

    As a result of the Morningstar transaction, DF repaid $1.019B of its long term debt. The entire 2016 & 2017 tranche B term loan. Anticipated interest expense reduction from the transaction was $41M.

    Together with the proceeds from the partial WWAV IPO, this will be a different DF when they report 4Q in about a month.

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    • burnaka@sbcglobal.net burnaka Jan 15, 2013 3:22 PM Flag

      Walk will that be annual savings going forward? Has No affect on this Q, but will add about .22 annual savings per share, .05 per q. Hope U held OPK. 2014 will be their year, but up about 20% or so since you said U got in.

      • 1 Reply to burnaka
      • I encorage you to take a look at this DF 8k dated 1/9. It says:

        "The unaudited pro forma condensed consolidated balance sheet of Dean Foods as of September 30, 2012 is presented as if the disposition of the Morningstar division occurred on September 30, 2012. The unaudited pro forma condensed consolidated statements of operations for the nine months ended September 30, 2012 and for each of the years ended December 31, 2011, 2010 and 2009 are presented as if the disposition occurred on January 1, 2009 and exclude results from discontinued operations."

        For the nine months ended 9/30/12 the interest expense savings was $41M. For 2011 it was $62M. For 2009 it was $58M.

        Even though the actual Morningstar transaction didn't happen till 1/3, I'm thinking DF at 4Q earnings will go into detail as to how this will impact interest expense going forward, as well as the impact of the over $1B DF received from WWAV in the partial IPO. I don't know exactly what it will be, but I know its going to be all good. When you shave over $2B off your balance sheet in a span of two months, you're looking at a different world.

        Stiil hanging in there with my (small) OPK stake. Frost has been more active than me;)

    • One month till earnings, if it's been like the last 6 quarters or so DF should excede expectations, hopefully WWAV also, I don't think they are reporting together anymore, but I could be wrong on that...

 
DF
16.08-0.08(-0.50%)Aug 21 4:00 PMEDT

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