Heinz Reports First-Quarter Results; EPS Increases to $0.75

H.J. Heinz Company HNZ: Fiscal 2011 First-Quarter Results 3.6% organic sales growth, reported sales up 1.6% 21st consecutive quarter of organic sales growth Emerging Markets delivered 21.9% organic sales growth (13.2% reported) and generated 17.8% of the Company’s sales Top 15 brands achieved 5.7% organic sales growth (3.3% reported) Global Ketchup organic sales grew by 8.0% (3.4% reported) Volume grew 2.5%, led by higher volume in Emerging Markets and North American Consumer Products Gross profit margin improved by 90 basis points Operating income grew 9.9% to $406 million Net income increased 13% to $240 million Earnings per share grew 10.3% from continuing operations Operating free cash flow increased 80% to $217 million