March 7, 2021

Diamond Foods Profit Rises 27%

Diamond reported after the market closed Thursday that it earned $8.5 million, or 37 cents a share, up from $6.7 million, or 30 cents a share, a year earlier.

Revenue in the period, which ended July 31 and was the fourth quarter of Diamond’s fiscal year, rose 32 percent to $232.8 million.

Analysts polled by FactSet anticipated the company would earn 44 cents a share on revenue of $216.3 million.

Diamond said that for the full 2012 fiscal year it expected adjusted earnings of $3.05 to $3.15 if a deal to acquire the Pringles brand closed in the first half of December as anticipated. That is up from previous guidance of $3 to $3.10. The company expects revenue of $1.85 billion to $1.95 billion for the year.

Stock in Diamond, which is based in San Francisco, rose $9.07, to $87.30 a share.

Article source: http://feeds.nytimes.com/click.phdo?i=49bae2ef4f5f980781d807bd12c2db42

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