SunOpta Inc. posted revenue of about $1.35 billion in 2016, up almost 18 percent at least partially because of boosted output from the global organic food company's expanded Upper Macungie Township facility.

But that's about where the good news ended Wednesday as SunOpta released its fourth-quarter and year-end financial results.

Just take a look at the company's fourth quarter: SunOpta posted a loss of about $33.5 million, which translates to a loss of 41 cents a share. In addition, the company reported fourth-quarter revenue of $297.5 million, a 6 percent drop compared with the year-earlier period. Both results fell short of Wall Street expectations.

"Fourth-quarter results were below our expectations, driven by the exit of non-core business lines, impairment charges and sales softness in beverage and fruit that also impacted production volumes," said David Colo, who took over as SunOpta president and CEO early last month. "We believe these results are not in any way reflective of the true earnings power of our company."

But it will take time to reach that true earnings power, Colo said Wednesday on a conference call with analysts, as SunOpta tries to turn around its fortunes as it works through its value-creation plan, which was announced in October.

In the Lehigh Valley, Canada-based SunOpta opened a consumer foods plant in 2012 on Daniels Drive in Upper Macungie. It completed a $25 million expansion in November 2015, which added aseptic processing capabilities. That transformed the facility, which employs 114, into a dual-purpose consumer products plant, with one part handling flexible resealable pouches for healthy snacks and baby food, and the newer part focusing on aseptic beverages such as soy or almond milk.

Colo said he sees a lot of opportunity in the consumer products segments and considers the expanded manufacturing footprint for aseptic beverages a "huge strength for the organization."

However, turning around the entire company, he cautioned, will take time, potentially three years or so before SunOpta achieves the margins the company wants. It's something Colo said will require SunOpta to make decisions with a long-term focus, even if that doesn't maximize quarterly results.

"We will clean it up, tune it up and turn it up," Colo said.

But SunOpta's stock took a turn downward Wednesday, dropping 45 cents or 6.25 percent to close at $6.75.

jon.harris@mcall.com

Twitter @ByJonHarris

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Organic food company with Upper Macungie plant looks to reverse fortunes under new CEO - Allentown Morning Call