June 2008 -- Food and beverage giant PepsiCo Inc. is much more than just a bottled soda manufacturer, thanks
to its acquisition over the years of such other major brands as Quaker, Frito-Lay, Gatorade and
Tropicana. That product diversity is key to PepsiCo's success, and helped spur $8.33 billion in
net revenues for the first quarter of 2008, a gain of almost $1 billion and a 13% improvement on
the comparable quarter in 2007, which posted $7.35 billion in net revenues.
"We delivered a strong first quarter," said Indra Nooyi, chairman and CEO, in the company's
April 24 quarterly statement. "Each of our operating divisions had positive results, and we are
pleased with the performance of the total portfolio." She pointed to growth in global core
trademarks such as Lay's, Mountain Dew and Pepsi, as well as new products in North America such
as G2 and TrueNorth, as well as the introduction of Tropicana juice drinks in China, India and
the U.K.
"During the quarter, we made significant progress to strengthen our platforms for future growth
and profitability," Nooyi said. "In partnership with the Pepsi Bottling Group, we announced the
acquisition of Lebedyansky, the largest juice company in Russia -- adding market leading,
healthy juice brands to our portfolio in this large and growing market. We also completed a
joint venture with the Strauss Group to add Sabra fresh, refrigerated dips to our North American
snacks portfolio." For 2008, the company expects 3% to 5% volume growth, high-single-digit net
revenue growth and earnings per share of at least $3.72.
