US food maker Del Monte Foods has reported lower quarterly net income before adjusting for the 2002 purchase of several businesses from H J Heinz.
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Del Monte posted net income of US$40.2m, or 19 cents a share, for the second quarter to 26 October, compared to net income of $52.4m, or 33 cents a share, a year earlier.
Second-quarter net sales rose to $811.6m from $471.7m a year earlier, mainly due to the additional brands.
Adjusted diluted earnings per share were 21 cents for the second quarter, compared to adjusted earnings of 21 cents a year earlier.
“This quarter’s performance was in line with prior year and, importantly, we continued our progress to build a unified company that will deliver superior on-going performance,” said CEO Richard G. Wolford.
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