UPDATE: Sara Lee Reports Decline In Q4 Profit; Shares Drop In Pre-Market

Sara Lee Corp SLE released its results for the fourth quarter on Thursday. Sara Lee's quarterly earnings dropped to $111 million, or $0.19 per share, from $187 million, or $0.28 per share, in the year-earlier period. Its revenue climbed 9% y/y to $2.30 billion. Its adjusted earnings came in at $0.20 per share. However, analysts were expecting earnings of $0.20 per share on revenue of $2.28 billion. Sara Lee projects net sales for fiscal 2012 of $8.5 billion to $8.75 billion and earnings per share of $0.89 to $0.95 per share. Sara Lee shares dropped 4.79% to $16.48 in pre-market trading.