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
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