USA: McCormick reports 15% increase in third quarter earnings per share
McCormick & Company, Incorporated (NYSE: MKC), today reported record sales and earnings per share for the third quarter of 2000. Earnings per share for the quarter ended August 31 were 45 cents, an increase of 15% over 1999's earnings per share of 39 cents, excluding special charges. Net sales were $496 million, up 4% over the third quarter of 1999, and 5% excluding the impact of foreign currency. The Company's gross profit margin increased to 34.9% from 34.4%. Gross profit margin continues to be positively impacted by cost reductions and a continued shift in sales toward more value-added products, particularly in the industrial business.
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