Food Business News - Feb 16, 2010 - (Page 1)

February 16, 2010 FOODBUSINESS NEWS NEWS, MARKETS AND ANALYSIS FOR THE FOOD PROCESSING INDUSTRY Snacks, international beverages drive PepsiCo '09 profit PURCHASE, N.Y. - With the help of strong results in its snacking and international beverage businesses, income for PepsiCo, Inc. rose sharply in the fourth quarter and finished up 16% for the fullyear 2009. For the year ended Dec. 26, 2009, the company had income of $5,946 million, equal to $3.77 per share on the common stock, up 16% from $5,142 million, or $3.21 per share, during fiscal 2008. Net revenue for the year was $43,232 million, down slightly from $43,251 million during the previous year. "In 2009, strong execution of PepsiCo's Continued on Page 10 F.D.A. proposes 23% budget increase for 2011 WASHINGTON - The Food and Drug Administration requested funding for fiscal 2011 at $4,031,658,000, a level 23% higher than the $3,284,066,000 approved by Congress for the agency in the current fiscal year. The budget request compared with enacted funding of $2,793,812,000 in fiscal year 2009. The requested increase from fiscal 2010 included a $146 million increase in budget authority (funds appropriated by Congress) and a $601 million increase in industry user fees. "The fiscal year 2011 resources will strengthen our ability to act as a strong and smart regulator, protecting Americans through every stage of life, many Continued on Page 24 Story on Page 16 U.S.D.A. unveils new food safety initiatives WASHINGTON - The U.S. Department of Agriculture announced plans to upgrade its food safety efforts for the more than 31 million children who participate in the National School Lunch Program (N.S.L.P.). Secretary of Agriculture Tom Vilsack on Feb. 4 announced several new initiatives to assure the safety and quality of food purchased by the U.S.DA. for the school lunch and other food and nutrition assistance programs. "Nothing is more important than the health and well-being of our nation's school children," Mr. Vilsack said. "We must do everything we can to ensure that our kids are being served safe, high quality foods at school. Today's announcement demonstrates our commitment to constantly improving the safety and quality of foods purchased by U.S.D.A." The U.S.D.A.'s announcement comes a Continued on Page 20

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Food Business News - Feb 16, 2010