UPDATE 1-Mead Johnson profit misses estimates; outlook cut
Oct 25 (Reuters) - Mead Johnson Nutrition Co reported lower quarterly profit on Thursday and cut its full-year outlook, hurt by a slowdown in China.
The maker of Enfamil baby formula said it now expected 2012 earnings of $2.91 to $2.96 per share, down from its prior forecast of $2.95 to $3.05.
In the third quarter, net income was $140.3 million, or 69 cents per share, down from $144.7 million, or 70 cents per share, a year earlier.
Excluding items, earnings were 71 cents per share. On that basis, analysts on average were expecting 72 cents, according to Thomson Reuters I/B/E/S.
Sales slipped to $921.3 million from $933.9 million, hurt by foreign exchange rates and challenges in China.