ConAgra Foods, Inc. (NYSE: CAG), one of the world's largest branded food companies, today reported diluted fourth quarter EPS of $.23 for the period ending May 27, 2001. Fourth quarter sales improved 5% to $6.4 billion and operating profit totaled $405 million. For fiscal 2001, sales grew 7% to reach $27.2 billion, operating profit totaled $1.9 billion, and diluted EPS was $1.33 before the cumulative effect of a change in three accounting principles. After the cumulative effect of a change in three accounting principles, the company's diluted EPS was $1.24. For fiscal 2001, diluted EPS was greater than fiscal 2000 diluted EPS of $.80, but below fiscal 2000 diluted EPS of $1.60 excluding restructuring and related charges.