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ConAgra Foods Profit Drops 13%
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ConAgra Foods says its fiscal fourth-quarter profit fell 13 percent as the prior-year period benefited from the sale of its commodity-trading unit.
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The maker of Chef Boyardee and Hunt's tomato sauce earned $174.7 million, or 39 cents per share. That's down from $201.3 million, or 41 cents per share, a year ago.
Income from continuing operations surged to $175.3 million, or 39 cents per share, from $85.4 million, or 17 cents per share.
Excluding net expense of 2 cents per share, income was 41 cents per share.
Sales grew 8 percent to $3.3 billion.
Analysts predicted profit of 41 cents per share on sales of $3.33 billion.
ConAgra [CAG
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] predicts 2010 adjusted earnings from continuing operations of $1.63 to $1.66 per share.
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Data is a real-time snapshot *Data is delayed at least 15 minutes
