(Source: Datamonitor)
ConAgra Foods has reported a net income of $165.2 million, or $0.37 per diluted share, for the first quarter ended August 30, 2009, a 62.7% decrease, compared to $442.4 million, or $0.94 per diluted share, for the first quarter ended August 24, 2008.
For the first quarter of fiscal 2010, net sales decreased 3.1% to $2.96 billion, compared to $3.06 billion in the corresponding period of fiscal 2009.
Gary Rodkin, CEO of ConAgra Foods, said: "We are off to a strong start in fiscal 2010. The consumer foods segment posted significantly improved operating profits, along with good sales trends across the consumer branded portfolio, and we expect the balance of the year to show strong profits for this segment due to manageable inflation, good cost savings, sales growth, and favorable mix.
"Our commercial foods segment is poised for a solid profit performance in line with our expectations, and we are confident we will deliver our raised earnings per share guidance for this fiscal year."
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