UPDATE 1-Mead Johnson Q1 profit up on international sales

Thu Apr 29, 2010 6:28pm IST

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CHICAGO, April 29 (Reuters) - Baby formula maker Mead Johnson Nutrition Co (MJN.N) posted a higher quarterly profit as strong sales in Asia and Latin America helped to offset sluggish sales in the United States.

First-quarter profit rose to $125.6 million, or 61 cents per share, from $103.5 million, or 55 cents per share, a year earlier.

Excluding one-time items, earnings were 65 cents per share. Analysts, on average, had forecast earnings of 60 cents a share, according to Thomson Reuters I/B/E/S.

Sales rose 10.2 percent to $763.5 million.

For the full year, the company said it now expected earnings of $2.33 to $2.40 per share, excluding one-time items. Its previous forecast was $2.30 to $2.40 per share.

(Reporting by Brad Dorfman; Editing by Ted Kerr)

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