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SunOpta Announces Third Quarter 2008 Results

November 05,2008

TORONTO, Nov 5, 2008 (GlobeNewswire via COMTEX News Network) -- SunOpta Inc. (SunOpta or the Company) (Nasdaq:STKL) (TSX:SOY) today announced financial results for the third quarter ended September 30, 2008. All amounts are expressed in U.S. dollars.

For the three months ended September 30, 2008, the Company realized its 44th consecutive quarter of increased revenue growth versus the same quarter in the previous year. Revenues in the third quarter of 2008 increased by 41.2% to $287,747,000 as compared to $203,778,000 in the third quarter ("Q3") of 2007. Third quarter 2008 revenues in the SunOpta Food Group increased 41.3% to $257,833,000 versus $182,514,000 in Q3 2007, driven by internal growth of 20.7% and the impact of the acquisition of The Organic Corporation B.V. (Tradin Organics) in April 2008 which contributed revenues in the third quarter of approximately $37,649,000. Revenues in Opta Minerals Inc. increased 43.7% to $29,440,000 for the quarter and revenues in the SunOpta BioProcess Group decreased to $474,000 versus $779,000 in the third quarter of 2007. Consolidated internal revenue growth for the quarter was 21.4%.

Operating income for the third quarter was $9,434,000 as compared to $5,762,000 in Q3 2007, an increase of approximately 64%. Segment operating income(1) within the SunOpta Food Group increased 9.7% to $5,598,000 and segment operating income in Opta Minerals Inc. increased 13.4% to $2,536,000. The SunOpta BioProcess segment incurred an operating loss of $1,541,000, largely driven by an increase in project costs and legal fees related to the ongoing Abener lawsuit. The Corporate segment had increased operating income of $3,608,000 over the same period in 2007 due to net foreign exchange gains in the amount of $4,345,000, offset by incremental operating costs to support continued growth in the business.

Earnings for the quarter were $3,904,000 or $0.06 per diluted common share as compared to 2007 third quarter earnings of $3,042,000 or $0.05 per diluted common share.

Third quarter 2008 results include professional and related fees and severance costs of $1,827,000 related to the Company's investigation into the write-down in the SunOpta Fruit Group Berry Operations and resulting delay in filing Annual Report 10-K for the year ended December 31, 2007, offset by the reversal of a previously recorded severance accrual reversal of $1,812,000 related to the Company's Chief Executive Officer and Chief Financial Officer, as detailed in a separate press release issued earlier today.

Without these professional fees and the severance accrual reversal as well as a number of non-recurring start-up, operational and legal costs, adjusted earnings(2) for the quarter would have been $5,237,000, representing an increase in earnings of approximately 72% versus Q3 2007.

For the nine months ended September 30, 2008, the Company has realized revenues of $810,136,000 versus $592,656,000 in the first nine months of 2007, an increase of 36.7%. Consolidated internal growth the first nine months was 20.7%. Earnings for the nine month period in 2008 were $6,109,000 or $0.09 per diluted common share versus $7,501,000 or $0.12 per diluted common share in 2007. These results include professional and related fees and severance costs of $7,631,000 related to the Company's investigation and related activities into the write-down in the SunOpta Fruit Group Berry Operations and resulting delay in filing Annual Report 10-K for the year ended December 31, 2007. Without these professional fees as well as a number of non-recurring start-up, operational and legal costs, adjusted earnings(2) for the first nine months of 2008 would have been $13,491,000, representing an increase in earnings of approximately 80% versus the same period in 2007.

For the third quarter the SunOpta Food Group reported segment operating income of $5,598,000 versus $5,105,000 in Q3 2007, an increase of 9.7%; these results include the impact of $391,000 in increased corporate cost allocations. The improved segment operating income was driven by the SunOpta Berry Operations and SunOpta International Sourcing and Trading Groups, which realized increases of 62.4% and 209.8% respectively in segment operating income due to strong sales, improving operating margins, and the impact of the Tradin Organics acquisition. The improvement in the Berry Operations segment continues a trend that was noted in the second quarter of 2008, reflecting improved results as inventories that were written down in 2007 to net realizable value are sold through and improved pricing and reduced storage costs are realized in hand with the benefits of the new management team and improved internal processes. Offsetting these increases in operating income were lower income in the SunOpta Grains and Foods Group due to lower market prices versus the same quarter in 2007, increased input costs and certain non-recurring start-up costs of approximately $315,000, lower income in the SunOpta Ingredients Group due to increased input costs and the impact of the flooding in the mid-west that occurred in June 2008 and had an impact of approximately $525,000, and slightly lower operating income in the SunOpta Distribution Group due to the impact of the lower Canadian dollar and increased freight and logistics costs in the third quarter of 2008 relative to the third quarter of 2007.

Opta Minerals realized segment operating income in the third quarter of 2008 of $2,536,000 as compared to $2,236,000 in Q3 2007, an increase of 13.4%, driven by strong sales of abrasive products in the U.S. combined with increased sales of magnesium desulphurization products and the 2007 acquisition of Newco, the Company's industrial minerals operation located in Slovakia, as well as the July 9, 2008 acquisition of MCP Mg-Serbian SAS ("MCP") of France. MCP sells ground magnesium products to a variety of industries in Europe and further expands the Company's European operating platform.

Segment operating results in the SunOpta BioProcess Group for the third quarter recorded a loss of ($1,541,000) versus a loss of ($812,000) in 2007, reflecting the negative impact of approximately $820,000 due to higher project costs related to the commissioning of equipment that is nearing completion and increased legal fees related to the ongoing Abener lawsuit, plus continued investment and development spending as the group works on a number of projects that are expected to utilize its technology in the production of cellulosic ethanol. There continues to be a strong interest in the SunOpta BioProcess Group's technology and equipment for the pre-treatment of biomass for the production of cellulosic ethanol.

At September 30, 2008, the Company's balance sheet reflects a current working capital ratio of 1.74 to 1.00, long term debt to equity ratio of 0.45 to 1.00 and total debt to equity ratio of 0.80 to 1.00. During the third quarter of 2008 cash provided by operations was $23,704,000 versus usage of ($11,489,000) in 2007, indicative of the Company's efforts to maximize cash generation. The Company has total assets of $634,762,000 and a net book value of $3.97 per outstanding share. The Company has obtained amendments to certain covenants for the fiscal quarters ended June 30, 2008, September 30, 2008, December 31, 2008 and March 31, 2009 and is in compliance with these revised covenants at September 30, 2008.

Steve Bromley, President and Chief Executive Officer of SunOpta, commented, "The results of the third quarter reflect both the continued growth in the Company's operations plus the impact of the extensive turnaround efforts in the Berry Operations and the positive impact of the acquisition of Tradin Organics. Having said that, these are unprecedented economic times driven by slowing economies, tight credit conditions and volatile foreign exchange markets. We expect our core food operations to hold up well in these difficult market conditions, but feel our non-core operations, and specifically Opta Minerals, will be significantly impacted due to the nature of their businesses. In addition, we expect to be unfavourably impacted by the translation of foreign denominated operations into U.S. dollars for reporting purposes. Based on this we are revising our 2008 earnings guidance to a range of $0.19 to $0.23 per diluted common share. We will provide regular updates on business operations on an on going basis and intend to update our 2009 revenue and earnings guidance early in the new year."

About SunOpta Inc.

SunOpta Inc. is an operator of high-growth ethical businesses, focusing on integrated business models in the natural and organic food and natural health markets. The Company has three business units: the SunOpta Food Group, which specializes in sourcing, processing and distribution of natural and organic food products integrated from seed through packaged products; Opta Minerals Inc. (TSX:OPM) (66.6% owned by SunOpta), a producer, distributor, and recycler of environmentally friendly industrial materials; and SunOpta BioProcess Inc. which engineers and markets proprietary steam explosion technology systems for the bio-fuel, pulp and food processing industries. Each of these business units has proprietary products and services that give it a solid competitive advantage in its sector.

The SunOpta Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3958

Forward-Looking Statements

Certain statements included in this press release may constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to the timing for filing the Company's periodic report and release of financial results. Whether actual timing will agree with expectations and predications of the Company is subject to many risks and uncertainties including, but not limited to, completion of the Company's internal and the external accounting procedures, which is partially beyond the control of the Company. Consequently all forward-looking statements made herein are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by the Company will be realized.

1) Segment Operating Income is defined as "Earnings Before the Following" excluding the impact of "Other expense, net."

2) Adjusted earnings is not a GAAP measure. SunOpta believes adjusted earnings (adjusted for the impact of the professional fees and severance costs incurred in relation to the investigation and related activities and the loss incurred by the SunOpta Fruit Group Berry Operations in the first and second quarters) provides useful information to understand the underlying performance of the business and as a result these items have been adjusted.

 SunOpta Inc.
 Consolidated Statements of Earnings
 For the three month periods ended September 30, 2008 and 2007
 (Expressed in thousands of U.S. dollars, except per share amounts)
 (Unaudited)
 ---------------------------------------------------------------------

                                        Sept. 30, Sept. 30,          %
                                            2008      2007      change
                                               $         $


  Revenues                               287,747   203,778       41.2%

  Cost of goods sold                     246,439   169,867       45.1%
                                       -------------------------------

  Gross profit                            41,308    33,911       21.8%

  Warehousing and distribution
   expenses                                5,288     5,198        1.7%
  Selling, general and
   administrative expenses                29,445    22,301       32.0%
  Intangible asset amortization            1,486     1,017       46.1%
  Other expense, net                          --       373    (100.0%)
  Foreign exchange gain                  (4,345)     (367)    1,083.9%
                                       -------------------------------

  Earnings before the following            9,434     5,389       75.1%

  Dilution gain                               --       693    (100.0%)
  Interest expense, net                  (3,983)   (2,350)       69.5%
                                       -------------------------------

  Earnings before income taxes             5,451     3,732       46.1%

  Provision for income taxes               1,043       250      317.2%
                                       -------------------------------

  Earnings before minority
   interest                                4,408     3,482       26.6%

  Minority interest                          504       440       14.5%
                                       -------------------------------

  Earnings for the period                  3,904     3,042       28.3%
                                       -------------------------------

  Earnings per share for the
   period

     Basic                                  0.06      0.05
                                       -------------------

     Diluted                                0.06      0.05
                                       -------------------


 SunOpta Inc.
 Consolidated Statements of Earnings
 For the nine month periods ended September 30, 2008 and 2007
 (Expressed in thousands of U.S. dollars, except per share amounts)
 (Unaudited)
 ---------------------------------------------------------------------
                                        Sept. 30, Sept. 30,          %
                                            2008      2007      change
                                               $         $



 Revenues                                810,136   592,656       36.7%

 Cost of goods sold                      682,759   493,474       38.4%
                                        ------------------------------


 Gross profit                            127,377    99,182       28.4%

 Warehousing and distribution
  expenses                                16,182    15,105        7.1%
 Selling, general and
  administrative expenses                 91,956    65,488       40.4%
 Intangible asset amortization             4,252     3,012       41.2%
 Other expense, net                           --       779    (100.0%)
 Foreign exchange gain                   (5,336)     (816)      553.9%
                                        ------------------------------

 Earnings before the following            20,323    15,614       30.2%

 Dilution gain                                --       693    (100.0%)
 Interest expense, net                  (10,484)   (6,079)       72.5%
                                        ------------------------------

 Earnings before income taxes              9,839    10,228      (3.8%)

 Provision for income taxes                2,165     1,763       22.8%
                                        ------------------------------

 Earnings before minority interest         7,674     8,465      (9.3%)

 Minority interest                         1,565       964       62.3%
                                        ------------------------------

 Earnings for the period                   6,109     7,501     (18.6%)
                                        ------------------------------

 Earnings per share for the period

    Basic                                   0.10      0.12
                                        ------------------

    Diluted                                 0.09      0.12
                                        ------------------



 SunOpta Inc.
 Consolidated Balance Sheets
 As at September 30, 2008 and December 31, 2007
 (Expressed in thousands of U.S. dollars)
 (Unaudited)
 ---------------------------------------------------------------------

                                                   Sept. 30,   Dec. 31,
                                                       2008       2007
                                                          $          $
 Assets

 Current assets
 Cash and cash equivalents                            9,116     30,302
 Short-term investments                              20,000         --
 Accounts receivable                                122,249     87,729
 Inventories                                        206,321    182,729
 Prepaid expenses and other current assets           14,637     10,201
 Current income taxes recoverable                       258      1,491
 Deferred income taxes                                1,756      1,749
                                                   -------------------
                                                    374,337    314,201

 Property, plant and equipment                      113,721    116,389
 Goodwill                                            65,759     55,503
 Intangible assets                                   64,983     62,076
 Deferred income taxes                               14,340     14,110
 Other assets                                         1,622      2,261
                                                   -------------------
                                                    634,762    564,540
                                                   -------------------
 Liabilities

 Current liabilities
 Bank indebtedness                                   90,042     58,806
 Accounts payable and accrued liabilities           111,647     93,462
 Customer and other deposits                          1,166      1,300
 Current portion of long-term debt                   11,983     13,119
 Current portion of long-term liabilities               552      1,304
                                                   -------------------
                                                    215,390    167,991

 Long-term debt                                     102,177     85,595
 Long-term liabilities                                5,269      3,275
 Deferred income taxes                               13,447     11,430
                                                   -------------------
                                                    336,283    268,291
                                                   -------------------

 Minority interest                                   15,634     13,863

 Preferred shares of a subsidiary company            27,699     27,409

 Shareholders' Equity

 Capital stock
  64,214,373 common shares
  (December 31, 2007 - 64,149,593)                  177,364    176,547
 Additional paid in capital                           6,731      5,967
 Retained earnings                                   57,954     51,845
 Accumulated other comprehensive income              13,097     20,618
                                                   -------------------
                                                    255,146    254,977
                                                   -------------------
                                                    634,762    564,540
                                                   -------------------



 SunOpta Inc.
 Consolidated Statements of Cash Flow
 For the three month periods ended September 30, 2008 and 2007
 (Expressed in thousands of U.S. dollars)
 (Unaudited)
 ---------------------------------------------------------------------

                                                   Sept. 30,  Sept. 30,
                                                       2008       2007
                                                          $          $

 Cash provided by (used in)

 Operating activities
 Earnings for the period                              3,904      3,042
 Items not affecting cash
  Amortization                                        4,838      3,783
  Unrealized loss on a foreign exchange             (1,655)         --
  Dilution gain                                          --      (693)
  Minority interest                                     504        440
  Forward foreign currency contracts                (1,085)          -
  Non-cash interest accretion                           192         96
  Stock-based compensation                              273        305
  Deferred income taxes                               (100)    (4,980)
  Other                                                 489        651
 Changes in non-cash working capital                 16,344   (14,133)
                                                  --------------------
                                                     23,704   (11,489)
                                                  --------------------

 Investing activities
 Acquisition of companies, net of cash
  acquired                                          (1,302)    (6,204)
 Purchases of property, plant and
  equipment, net                                    (1,388)    (9,443)
 Payment of deferred purchase consideration         (1,204)      (379)
 Purchase of patents, trademarks and other
  intangible assets                                   (375)       (35)
 Increase in other assets                                --      (282)
                                                  --------------------
                                                    (4,269)   (16,343)
                                                  --------------------
 Financing activities
 Borrowings under long-term debt                      1,999     21,581
 Repayment of long-term debt                        (2,694)   (10,784)
 (Decrease) increase in line of credit
  facilities                                       (19,716)     18,855
 Proceeds from the issuance of common
  shares, net of issuance costs                         557      1,400
 Other                                                  340       (45)
                                                  --------------------
                                                   (19,514)     31,007
                                                  --------------------

 Foreign exchange gain on cash held in a
  foreign currency                                       72        509
                                                  --------------------

 (Decrease) increase in cash and cash
   equivalents during the period                        (7)      3,684

 Cash and cash equivalents - beginning of
  the period                                          9,123     29,680
                                                  --------------------

 Cash and cash equivalents - end of the
  period                                              9,116     33,364
                                                  --------------------


 SunOpta Inc.
 Consolidated Statements of Cash Flow
 For the nine month periods ended September 30, 2008 and 2007
 (Expressed in thousands of U.S. dollars)
 (Unaudited)

 ---------------------------------------------------------------------
                                          September 30,  September 30,
                                                   2008           2007
                                                      $              $

 Cash provided by (used in)

 Operating activities
 Earnings for the period                          6,109          7,501
 Items not affecting cash
  Amortization                                   14,351         10,710
  Unrealized loss on a foreign exchange          (1,266)            --
  Minority interest                               1,565            964
  Forward foreign currency contracts             (1,085)            --
  Non-cash interest accretion                       628            128
  Stock-based compensation                          764          1,034
  Deferred income taxes                             (25)        (6,275)
  Other                                             558            434
 Changes in non-cash working capital             (8,863)       (63,664)
                                          -------------  -------------
                                                 12,736        (49,861)
                                          -------------  -------------

 Investing activities
 Acquisition of companies, net of cash
  acquired                                       (5,413)       (19,584)
 Increase in short-term investments             (20,000)            --
 Purchases of property, plant and
  equipment, net                                 (6,918)       (21,924)
 Payment of deferred purchase
  consideration                                  (1,959)        (1,468)
 Purchase of patents, trademarks and
  other intangible assets                          (497)          (922)
 Decrease (increase) in other assets                169         (1,613)
                                          -------------  -------------
                                                (34,618)       (45,511)
                                          -------------  -------------

 Financing activities
 Borrowings under long-term debt                 15,074         23,081
 Repayment of long-term debt                    (12,947)       (18,288)
 Proceeds from the issuance of preferred
  shares by a subsidiary                             --         27,954
 (Decrease) increase in line of credit
  facilities                                     (2,735)        40,589
 Proceeds from the issuance of common
  shares, net of issuance costs                     817         54,016
 Other                                              440            (45)
                                          -------------  -------------
                                                    649        127,307
                                          -------------  -------------

 Foreign exchange gain on cash held in a
  foreign currency                                   47            475
                                          -------------  -------------

 (Decrease) increase in cash and cash
  equivalents during the period                 (21,186)        32,410

 Cash and cash equivalents - beginning of
  the period                                     30,302            954
                                          -------------  -------------

 Cash and cash equivalents - end of the
  period                                          9,116         33,364
                                          =============  =============

 SunOpta, Inc.
 Segmented Information
 For the three month periods ended September 30, 2008 and 2007
 (Expressed in thousands of U.S. dollars)
 (Unaudited)
 ---------------------------------------------------------------------
                                                    Three months ended
                                                    September 30, 2008
                              ----------------------------------------
                              SunOpta          SunOpta
                                 Food     Opta    Bio-  Corp-  Consol-
                                Group Minerals Process  orate   idated
                                    $        $       $      $        $
                              ----------------------------------------

 Total revenues from external
  customers                   257,833   29,440     474     --  287,747
                              ----------------------------------------

 Segment Operating Income(1)    5,598    2,536  (1,541) 2,841    9,434
                              ----------------------------------------


 The SunOpta Food Group has the following segmented reporting:
                  ----------------------------------------------------
                                                    Three months ended
                                                    September 30, 2008
                  ----------------------------------------------------
                  SunOpta
                   Grains  SunOpta   Berry           SunOpta   SunOpta
                      and   Ingred-  Opera-           Distri-     Food
                    Foods    ients   tions      IST   bution     Group
                        $        $       $        $        $         $
                  ----------------------------------------------------
 Total revenues
  from external
  customers        88,193   16,553  39,283   51,111   62,693   257,833
                  ----------------------------------------------------
 Segment
  Operating
  Income(1)         3,171      700  (1,068)   1,174    1,621     5,598
                  ----------------------------------------------------
                              ----------------------------------------
                                                    Three months ended
                                                    September 30, 2008
                              ----------------------------------------
                              SunOpta          SunOpta
                                 Food     Opta    Bio-  Corp-  Consol-
                                Group Minerals Process  orate   idated
                                    $        $       $      $        $
                              ----------------------------------------

 Total revenues from external
  customers                   182,514   20,485    779      --  203,778
                              ----------------------------------------
 Segment Operating Income(1)    5,105    2,236   (812)   (767)   5,762
                              ----------------------------------------


 The SunOpta Food Group has the following segmented reporting:
                  ----------------------------------------------------
                                                    Three months ended
                                                    September 30, 2007
                  ----------------------------------------------------

                  SunOpta
                   Grains  SunOpta   Berry           SunOpta   SunOpta
                      and   Ingred-  Opera-           Distri-     Food
                    Foods    ients   tions      IST   bution     Group
                        $        $       $        $        $         $
                  ----------------------------------------------------

 Total revenues
  from external
  customers        65,005   17,424  34,668   12,524   52,893   182,514
                  ----------------------------------------------------
 Segment
  Operating
  Income(1)         4,369    1,478  (2,843)     379    1,722     5,105
                  ----------------------------------------------------

 (1) Segment Operating Income is defined as "Earnings before the
     following" excluding the impact of "other expense, net")




 SunOpta Inc.
 Segmented Information
 For the nine month periods ended September 30, 2008 and 2007
 (Expressed in thousands of U.S. dollars)
 (Unaudited)
 ---------------------------------------------------------------------
                                                     Nine months ended
                                                    September 30, 2008
                              ----------------------------------------
                              SunOpta          SunOpta
                                 Food     Opta    Bio-  Corp-  Consol-
                                Group Minerals Process  orate   idated
                                    $        $       $      $        $
                              ----------------------------------------

  Total revenues from
   external customers         733,001   76,058   1,077     --  810,136
                              ----------------------------------------
 Segment Operating Income(1)   20,877    7,891 (3,181) (5,264)  20,323
                              ----------------------------------------

 The SunOpta Food Group has the following segmented reporting:

                  ----------------------------------------------------
                                                     Nine months ended
                                                    September 30, 2008
                  ----------------------------------------------------
                  SunOpta
                   Grains  SunOpta   Berry           SunOpta   SunOpta
                      and   Ingred-  Opera-           Distri-     Food
                    Foods    ients   tions      IST   bution     Group
                        $        $       $        $        $         $
                  ----------------------------------------------------

 Total revenues
  from external
  customers       247,235   50,327 117,912  116,411  201,116   733,001
                  ----------------------------------------------------

 Segment
  Operating
  Income(1)        14,265    2,304  (7,021)   3,038    8,291    20,877
                  ----------------------------------------------------

                              ----------------------------------------
                                                     Nine months ended
                                                    September 30, 2008
                              ----------------------------------------
                              SunOpta          SunOpta
                                 Food     Opta    Bio-  Corp-  Consol-
                                Group Minerals Process  orate   idated
                                    $        $       $      $        $
                              ----------------------------------------
 Total revenues from
  external customers          535,501   55,342   1,813     --  592,656
                              ----------------------------------------

 Segment Operating Income(1)   16,205    5,744  (1,720) (3,836) 16,393
                              ----------------------------------------

 The SunOpta Food Group has the following segmented reporting:
                  ----------------------------------------------------
                                                     Nine months ended
                                                    September 30, 2007
                  ----------------------------------------------------

                  SunOpta
                   Grains  SunOpta   Berry           SunOpta   SunOpta
                      and   Ingred-  Opera-           Distri-     Food
                    Foods    ients   tions      IST   bution     Group
                        $        $       $        $        $         $
                  ----------------------------------------------------
 Total revenues
  from external
  customers       183,187   51,611 101,648   40,347  158,708   535,501
                  ----------------------------------------------------

 Segment
  Operating
  Income(1)        12,359    3,666  (8,275)   1,975    6,480    16,205
                  ----------------------------------------------------

  (1)  Segment Operating Income is defined as "Earnings before the
       following" excluding the impact of "other expense, net"


 SunOpta Inc.
 Supplemental Information
 For the three and nine month periods ended September 30, 2008 and 2007
 (Expressed in thousands of U.S. dollars)
 (Unaudited)
 ---------------------------------------------------------------------

                                                    Three months ended
                                                       September 30,
                                                      2008       2007
                                                        $         $

 Earnings for the period                              3,904      3,042
 Professional fees, net of taxes of $534
  (2007 - $nil)                                       1,161         --
 Severance and other related costs, net of
  taxes of $51 (2007 - $nil)                             81         --
 Reversal of severance accrual, net of tax
  recovery of $571 (2007 - $nil)                    (1,241)         --
 Non-recurring start-up, operational and
  legal costs, net of taxes of $328
  (2007 - $nil)                                       1,332         --
                                                   -------------------
                                                      5,237      3,042
                                                   -------------------


                                                    Nine months ended
                                                      September 30,
                                                      2008       2007
                                                          $          $

 Earnings for the period                              6,109      7,501
 Professional fees, net of taxes of $2,321
  (2007 - $nil)                                       5,046         --
 Severance and other related costs, net of
  taxes of $83 (2007 - $nil)                            181         --

 Non-recurring start-up, operational and
  legal costs, net of taxes of $580
  (2007 - $nil)
                                                      2,155         --
                                                   -------------------
                                                     13,491      7,501
                                                   -------------------

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: SunOpta Inc.

SunOpta Inc.
          Jeremy N. Kendall, Chairman
          Steve Bromley, President & CEO
          John Dietrich, Vice President & CFO
          Tony Tavares, Chief Operating Officer
          Susan Wiekenkamp, Information Officer
            905-455-2528, ext 103
            susan.wiekenkamp@sunopta.com
          www.sunopta.com

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