Monday, June 15, 2009

Del Monte - New Speak

Del Monte Foods Company (NYSE:DLM): Del Monte speak is truly a wondrous thing. They have done well in controlling costs, improving margins and increasing revenues. But for some reason they cannot bring themselves to say that. Read this quote which was placed immediately after comments by Richard G. Wolford, Chairman and CEO

“The 14.1% increase in net sales was driven primarily by pricing actions, as well as new product volume across the portfolio. These gains were partially offset by existing volume declines in Consumer Products (primarily due to the volume elasticity from the pricing actions). “

I wonder if the bonus clause in the executive compensation contract has the same type of language.