Del Monte posted higher quarterly profit
Del Monte Foods Co posted higher quarterly profit on Thursday as price increases and higher sales helped mitigate rising costs for everything from fish to packaging materials.
The maker of StarKist tuna, 9Lives cat food and College Inn soups said profit
was $53.3 million, or 26 cents a share, for the fiscal third quarter ended
January 27, compared with $46.5 million, or 23 cents a share, a year
earlier.
Excluding restructuring costs, earnings were 28 cents a share,
compared with the average analyst estimate of 26 cents a share, according to
Reuters Estimates. Sales rose 10.4% to $1 billion.
The company also said
it expected fourth-quarter earnings of 23 cents to 27 cents a share from
continuing operations, including 4 cents a share of restructuring
costs.
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Source: Reuters
