Dean Foods Company announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company reported net sales of $2,022,500,000 against $2,395,007,000 a year ago. Operating income was $45,412,000 against $7,980,000 a year ago. Income from continuing operations before income taxes was $31,151,000 against loss from continuing operations before income taxes $8,139,000 a year ago. Income from continuing operations was $18,818,000 or $0.20 per diluted share against $5,704,000 or $0.06 per diluted share a year ago. Net income was $18,480,000 or $0.20 per diluted share against $5,277,000 or $0.06 per diluted share a year ago.

On adjusted basis, the company reported net sales of $2,022,500,000 against $2,395,007,000 a year ago. Operating income was $66,948,000 against $25,676,000 a year ago. Income from continuing operations before income taxes was $52,905,000 against $11,420,000 a year ago. Income from continuing operations was $32,800,000 or $0.36 per diluted share against $7,081,000 or $0.08 per diluted share a year ago. Net income was $32,800,000 or $0.36 per diluted share against $7,081,000 or $0.08 per diluted share a year ago. Adjusted EBITDA was $106,912,000 against $66,849,000 a year ago.

For the year, the company reported net sales of $8,121,661,000 against $9,503,196,000 a year ago. Operating income was $93,361,000 against $8,553,000 a year ago. Loss from continuing operations before income taxes was $13,310,000 against $52,283,000 a year ago. Loss from continuing operations was $8,081,000 or $0.09 per diluted share against $20,187,000 or $0.22 per diluted share a year ago. Net loss was $8,508,000 or $0.09 per diluted share against $20,296,000 or $0.22 per diluted share a year ago.

On adjusted basis, the company reported net sales of $8,121,661,000 against $9,503,196,000 a year ago. Operating income was $247,707,000 against $36,419,000 a year ago. Income from continuing operations before income taxes was $185,933,000 against loss from continuing operations before income taxes $21,053,000 a year ago. Income from continuing operations was $115,277,000 or $1.24 per diluted share against loss from continuing operations of $13,053,000 or $0.14 per diluted share a year ago. Net income was $32,800,000 or $1.24 per diluted share against net loss of $7,081,000 or $0.14 per diluted share a year ago. Adjusted EBITDA was $404,157,000 against $195,961,000 a year ago. Net cash provided by operating activities was $408,153,000 against $152,946,000 a year ago. Payments for property, plant and equipment  was $162,542,000 against $149,421,000 a year ago. Free cash flow provided by continuing operations  was $245,612,000 against $3,525,000 a year ago.

For the first quarter, with the continuation of commercial and brand initiatives, diligent cost focus, and an overall favorable commodity environment, the company expects operating and financial momentum to continue with first quarter adjusted diluted earnings of between $0.32 and $0.42 per diluted share.

For the full year, the company expects capital expenditures to be approximately $160 million, consistent with capital spend in 2015.