<p><strong>Houston, TX</strong><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Sysco has reported its fourth quarter and full year financials. Sales for the company increased 5.9% to $11.0 billion from $10.4 billion in the fourth quarter of fiscal 2011. Operating income decreased 8.1% to $515 million when compared to $561 million in the comparable quarter last year. Adjusted1 operating income, which reflects the performance of our underlying business, was $608 million, an increase of 2.2% compared to last year's fourth quarter, according to a press release. Diluted earnings per share (EPS) were $0.53.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> "Earnings were impacted by certain items primarily related to a multi-employer pension plan (MEPP) withdrawal. Excluding these certain items, diluted EPS was $0.551. Further adjusting for business transformation expenses and the impact of COLI, adjusted diluted EPS was $0.62, an increase of 3.3% compared to the prior year period," according to the financials.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> For the full year, sales increased 7.8% to $42.4 billion from $39.3 billion in fiscal 2011. Operating income was at a 2.1% decrease revealing $1.9 billion. Adjusted operating income was $2.1 billion, an increase of 3.0% from the prior year.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Bill DeLaney, Sysco's President and Chief Executive Officer, stated, "Market conditions remained challenging throughout the year due to increasing product costs and an uneven economic recovery. Nevertheless, we successfully supported our customers and grew our share of market." Mr. DeLaney, continues, "We are making meaningful progress on our business transformation initiatives and believe the benefits will both improve our financial performance over time and further enhance our leadership position in the industry."<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.sysco.com" target="_new"> Sysco </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">
