(Source: Datamonitor)
The HJ Heinz Company has reported net income of $212.56 million or $0.67 diluted earnings per share, for the first quarter ended July 29, 2009, compared to $228.96 million or $0.72 diluted earnings per share, for the first quarter ended July 30, 2008.
Sales for the fiscal 2010 ended July 29, 2009 were $2.47 billion, compared to $2.58 billion in the same period of 2008.
Operating income of the company for the first quarter of fiscal 2010 was $365.97 million compared to $392.26 million in the corresponding period of the prior year.
William Johnson, chairman, president and CEO of Heinz, said: "Led by strong organic sales growth in emerging markets, our sharply focused global portfolio of leading brands performed well, especially in our core categories of ketchup and sauces and infant/nutrition, even as the recession continued to impact consumer behavior. At the same time, Heinz delivered robust cash flow, reflecting our strong focus on working capital and in particular on reducing inventory."
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