Tags: US | Earns | Sara | Lee

Sara Lee Swings to Loss But Raises Outlook

Thursday, 06 May 2010 08:29 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Sara Lee says it lost money during its fiscal third quarter, pulled down by a tax charge and other items.

But the food company raised its 2010 adjusted earnings guidance, which is now expected to top Wall Street's expectations.

Sara Lee lost $336 million, or 49 cents per share, compared with net income of $165 million, or 24 cents per share, a year ago.

Removing a tax charge and other items totaling 79 cents per share, profit was 29 cents per share. That tops the 21 cents-per-share analyst estimate.

Revenue for the period ended March 27 was flat at $2.58 billion, below Wall Street's $2.71 billion estimate.

Sara Lee Corp. saw strength in its North American retail and international drinks businesses.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Wash. Post: Review Finds FBI Crime Lab Unit Rife With Flawed Forensics

Tuesday, 29 Jul 2014 23:04 PM

Nearly every criminal case the FBI and Justice Department has so far reviewed since launching the largest-ever probe of  . . .

Marco Rubio: Letting Illegals Apply for Jobs Would Be a 'Lure'

Tuesday, 29 Jul 2014 22:55 PM

President Barack Obama's possible move to allow millions of illegal immigrants to apply for work in the United States wo . . .

Mike Rogers: White House 'Not Connected to Reality' on Russia

Tuesday, 29 Jul 2014 22:04 PM

The White House is not acting seriously enough on Russia's breaking of the 1987 Intermediate-Range Nuclear Forces Treaty . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved