UPDATE 1-Mead Johnson Q1 profit up on international sales
* EPS 65 cents ex-items vs Wall St view 60
* Sees 2010 EPS $2.33-$2.40, ex-items
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)
- Tweet this
- Share this
- Digg this
- UPDATE 4-P&G to exit Duracell battery business; quarterly sales dip
- UPDATE 7-Doctor with Ebola in New York stable; nurse is virus-free
- Putin accuses United States of damaging world order
- Special Report: Why Madrid's poor fear Goldman Sachs and Blackstone
- Doctor with Ebola in New York stable; nurse is virus-free