UPDATE: Ralcorp Reports 47% Drop In FQ3 Profit

Ralcorp Holdings Inc RAH reported a 47% decline in its fiscal third-quarter profit. Ralcorp reported its quarterly earnings at $28.3 million, down from $53 million, in the year-ago period. Its adjusted earnings surged to $1.15 per share from $1.11 per share. Its revenue climbed 22% to $1.17 billion. However, analysts were expecting earnings of $1.15 per share on revenue of $1.15 billion. Ralcorp shares closed at $74.29 yesterday.