ConAgra Foods: reports strong first-quarter sales growth

Omaha / NE. (caf) ConAgra Foods Inc. one of North America´s leading packaged food companies, reported results for the fiscal 2009 first quarter ended August 24, 2008. Diluted EPS from continuing operations was 0,23 USD, including net 0,04 USD per diluted share of expense from items impacting comparability. Excluding those items, diluted EPS from continuing operations was 0,27 USD. Overall sales grew 17 percent, including nine percent sales growth from the Consumer Foods segment, reflecting the company´s recent pricing actions. Prior-year diluted EPS from continuing operations of 0,27 USD included net 0,01 USD of income from items impacting comparability. Items impacting comparability in the current year and prior year are summarized toward the end of this release. Chief executive officer Gary Rodkin: «We are pleased with the overall sales results in the Consumer Foods segment, the continued profit growth in Commercial Foods, and progress with overall supply chain and SG+A costs. We are disappointed that Consumer Foods posted a decline in comparable operating profit; however, we have already implemented actions that should generate stronger profits for the Consumer Foods business, particularly in the second half of the fiscal year» (source).