Fortune Brands Top Line Declines 11% on Weak Home/Hardware Sales (FO)
Oct 23, 2009 (SmarTrend(R) News Watch via COMTEX) --
Company: Fortune Brands, Inc. (FO)
10/23/2009-Fortune Brands (NYSE:FO) reported Q3 EPS of 77 cents, ex-items, topping consensus estimates of 61 cents. Revenues in the quarter fell 11% year-over-year to $1.72 billion, but came in ahead of consensus estimates of $1.63 billion.
"Consumers are clearly remaining cautious, but our innovative new-product programs, trusted brands and compelling value propositions are helping us compete successfully in the marketplace," Bruce Carbonari, chairman and chief executive officer of Fortune Brands said. "In the third quarter, we also remained focused on our successful initiatives to reduce cost structures, improve global supply chains and enhance our cash position. These initiatives are benefiting Fortune Brands and helping position the company for future growth."
Write to Chip Brian at cbrian@tradethetrend.com
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News Provided by COMTEX
Company: Fortune Brands, Inc. (FO)
Related terms: ceo, eps, hardware, market, nyse, sales, securities
