Ralcorp Holdings: announces results for Q2 of fiscal 2008

St. Louis / MO. (rh) Ralcorp Holdings Inc. filed its Quarterly Report on Form 10-Q for the period ended March 31, 2008. Reported diluted earnings per share were 1,46 USD including the impact of a non-cash gain on forward sale contracts related to Ralcorp´s investment in Vail Resorts, Inc.; or 0,86 USD per share excluding that impact. In last year´s second quarter, reported diluted earnings per share were 0,02 USD including the impact of a non-cash loss on those contracts, or 0,83 USD excluding that impact. Other reported results for the quarter include:

• Net sales for the quarter increased 24 percent as a result of a business acquisition, other volume gains, and higher pricing in response to rising input costs.
• Total segment profit contribution was up eight percent as a result of the acquisition and higher volumes and selling prices, partially offset by higher ingredient costs and amortization expense.
• Food EBITDA was 57,8 million USD compared to 53,0 million USD last year.
• Earnings (loss) before income taxes and equity earnings were 49,2 million USD (compared to a loss of 10,7 million USD last year) after a 24,5 million USD (0,60 USD per share) non-cash gain on Ralcorp´s Vail forward sale contracts. Last year´s amount included a 34,6 million USD (0,81 USD per share) non-cash loss on those contracts.
• Equity in earnings of Vail Resorts, Inc. (after tax) was 6,7 million USD (0,26 USD per share) compared to 6,9 million USD (0,25 USD per share) a year ago.
• Net earnings were 38,5 million USD, which is 38,0 million USD higher than a year ago – including the non-cash after-tax effects of gains or losses on the Vail forward sale contracts (source).