A shift towards higher-margin products has led US snack maker Diamond Foods today (29 January) lifted its earnings targets for fiscal 2010.

Diamond is targeting expects diluted earnings per share (EPS) for the fiscal year ending 31 July 31 to be $1.75 to $1.83 – compared to a previous forecast of $1.72 to $1.82.

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During Diamond’s fiscal 2009 year, full-year EPS was $1.44 (GAAP) and $1.47 (non-GAAP).

The company said it was seeing “strong revenue growth” from its snack portfolio, where margins continue to improve as “the sales mix shifts toward higher margin retail products”.

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