H.J. Heinz 1Q profit beats estimates; revenue up 15% to $2.58B
BOSTON, Aug 21, 2008 (Thomson Financial via COMTEX) -- By Staff Reporter
Company: H. J. Heinz Co. (HNZ)
H.J. Heinz Co. Thursday said first-quarter net income rose to $229 million, or 72 cents a share, beating the mean estimate of analysts polled by Thomson Reuters of 66 cents a share.
In the same period a year ago, the company earned $205.3 million, or 63 cents a share.
Revenue for the Pittsburgh-based company rose 15% to $2.58 billion from $2.25 billion a year earlier. Analysts, on average, had estimated revenue of $2.46 billion.
For fiscal 2009, H.J. Heinz revised its earnings forecast to a range of $2.87 to $2.91 a share from a previous range of $2.83 to $2.91 a share. Analysts, on average, predict 2009 profit of $2.91 a hare.
Shares closed Wednesday at $51.71. Casey Logan cl/rv
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Company: H. J. Heinz Co. (HNZ)
Related terms: earnings, profit, revenue
