US snack maker Diamond Foods has posted “record” first-quarter earnings on the back of bumper quarterly sales.
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The company yesterday (3 December) booked net income of US$10.7m for the three months to 31 October, up from $8.3m a year earlier.
Diluted earnings per share jumped 23% from $0.52 to $0.64, Diamond said.
Net sales rose 6% to $195.5m as Diamond’s North American retail sales grew 23%.
“Our efforts to reduce costs and strengthen retail distribution by investing behind our brands helped us post strong results despite a difficult economic climate,” Diamond president and CEO Michael Mendes said.
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By GlobalData“Looking ahead, our brands are well positioned to benefit from changes in spending patterns as consumers prepare more meals at home or look for greater value in their food choices.”
