USA: McCormick Reports 25% Increase in Earnings Per Share for Second Quarter
McCormick & Company, Incorporated today reported a 25% increase in earnings per share, excluding special charges, for the second quarter of 2000, ended May 31.Net sales for the quarter were $486 million, up 4% over the second quarter of 1999. In the quarter, the Company's gross profit margin increased to 35.1% from 33.7% the prior year. Operating profit rose 16%, excluding special charges. Unconsolidated income for the quarter was $3.2 million versus $2.1 million last year. Earnings per share for the quarter were 35 cents, an increase of 25% over 1999's earnings per share of 28 cents, excluding special charges. The segment information that follows excludes the impact of special charges.
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