UPDATE: Sara Lee Swings To FQ3 Profit, Lowers Full-Year Earnings Forecast

Sara Lee Corp

swung to a profit in the fiscal third quarter. The company reported its quarterly earnings at $153 million, or $0.25 per share, versus a loss of $336 million, or $0.49 per share, in the year-ago period. The company's adjusted earnings from continuing operations came in at $0.24 per share. However, analysts were expecting earnings of $0.25 per share. The company's sales increased to $2.22 billion from $2.08 billion. Sara Lee lowered its full-year earnings forecast to a range of $0.79 to $0.83 per share, from $0.85 to $0.89 per share, versus analysts' estimates of $0.86 per share. SLE shares fell 0.67% to close at $19.14 yesterday. Read more