SYSCO Conference Call Highlights

SYSCO Inc.

reported its fourth quarter earnings on Monday. Shares of the company are up three percent. Below are some key highlights from its conference call: Growth and Results: • Sales for the fiscal year grew 5% to $47 billion and adjusted net earnings were $1 billion. • Cash flow from operations for the fiscal year was $1.5 billion. • We reduced our operating expenses per case by $0.06. • Turning to our results for the quarter, sales grew 5.9% to $12.3 billion and net earnings were $254 million. • Adjusted EPS was $0.50 for the quarter, which was flat compared to the prior-year period. • Our results reflect the impact of the slow and modest economic recovery in a Foodservice industry that as a whole remains under pressure. • Several of these recent deployments took place some of our larger and more complex operating companies and many conversions occurred during a particularly busy time of year. • We continue to learn and adjust with each go live and as a result each one has been progressively more successful. • As we continue to implement our category management initiative this year we also focused on enhancing our execution of this effort in several important ways