December 5, 2012 / 1:00 PM / 5 years ago

Brown-Forman posts higher quarterly profit

1 Min Read

Dec 5 (Reuters) - Brown-Forman Corp, maker of Jack Daniel's whiskey and Finlandia vodka, reported a higher quarterly profit as higher prices and lower costs boosted margins, and it also raised its full-year earnings forecast.

The company said it now expects to earn between $2.58 and $2.70 per share for fiscal 2013, up from its prior expectations of between $2.40 and $2.67 per share.

Second-quarter net income rose to $173 million, or 80 cents per share, from $157.6 million, 73 cents per share, a year earlier.

Net sales for the quarter remained flat at $1.01 billion.

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