Del Monte Foods Company Reports 2011 Second Quarter EPS of $.41

by Benzinga Staff

December 2, 2010 8:04 AM | 1 min read |

Del Monte Foods Company DLM:

Second quarter net sales declined 1.9%.

Pet Products net sales grew ~3%.
Consumer Products net sales declined ~5%.

Diluted EPS from continuing operations of $0.41 represents a $0.10 year over year increase from Q2 EPS of $0.31 (which included $0.05 of debt refinancing costs) in fiscal 2010.

Excluding the impact of the potential transaction announced on November 25, 2010, fiscal 2011 guidance:

Net sales growth is now expected to be -1% to 1% compared to prior expectations of 1% to 3%.
Diluted EPS from continuing operations is maintained at $1.38-$1.42.
Cash from operations less cash from investing is now expected to be $280-$290 million, compared to prior expectations of $260-$270 million.

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