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Business Description
Del Monte Foods Company produces, distributes and markets branded and private-label food and pet products for the United States retail market. The Company's food brands include Del Monte, StarKist, Contadina, S&W, College Inn, Nature's Goodness and other brand names, and its pet food and pet snacks brands include 9Lives, Kibbles 'n Bits, Pup-Peroni, Snausages, Nawsomes!, Jerky Treats, Canine Carry-Out, Meaty Bone and Pounce. The Company's businesses are aggregated into two segments: Consumer Products and Pet Products. The Consumer Products segment includes branded shelf-stable seafood, baby food, fruit, vegetable and tomato products, as well as private -label soups and broth. The Pet Products segment includes dry and wet pet food and pet snacks. The Company was formed in December 2002 via the spin-off of SKF Foods from H.J. Heinz Co. and its subsequent merger with Del Monte Foods Company.

Financial Information
For the 13 weeks ended 8/1/04, net sales increased 2% to $626 million. Net income from continuing operations decreased 36% to $8.6 million. Revenues reflect growth in pricing and strong volume growth in Pet Products segment. Lower income reflects reduced gross margins, an increase in SG&A expenses and higher other non-operating costs.