DAYVILLE, Conn. — United Natural Foods here yesterday said its net income for the third quarter was $13.7 million, up 11.4% from year-ago levels but short of analysts’ expectations. The company attributed some of the shortfall to inventory losses related to the addition of the Whole Foods distribution business in Southern California. “In our Western region, it was all hands on deck to make it happen in a short period of time, and we lost some focus on the basic things that we do normally well, day in and day out,” said Michael Funk, president and chief executive officer, in a conference call with analysts. Revenues for the quarter, which ended April 28, were up 15%, to $732.5 million. Through three quarters, net income was up 21%, to $37 million, on a revenue increase of 12.9%, to $2.05 billion. The company revised its earnings forecast for the year down to $1.24-$1.26 per share, excluding certain items, vs. previous guidance of $1.27-$1.30 per share.
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