Mead Johnson fourth-quarter profit rises

Thu Jan 31, 2013 7:53am EST

Jan 31 (Reuters) - Mead Johnson Nutrition Co reported higher quarterly profit on Thursday, citing higher sales, the timing of a pension settlement expense and a lower tax rate.

The maker of Enfamil baby formula said net earnings were $134.2 million, or 66 cents per share, in the fourth quarter, up from $85.6 million, or 42 cents per share, a year earlier.

Excluding special items, earnings were 72 cents per share.

Sales rose 8 percent to $981.1 million.

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