Nov 20 H.J. Heinz Co reported
higher-than-expected quarterly earnings on Tuesday, citing
growth in emerging markets and a favorable tax rate.
Net income was $289.4 million, or 90 cents per share, in the
fiscal second quarter ended Oct. 28, up from $237.0 million, or
73 cents per share, a year earlier.
Analysts on average were expecting 88 cents per share,
according to Thomson Reuters I/B/E/S.
Sales rose 0.5 percent to $2.83 billion despite a 2.4
percentage-point hit from foreign currency exchange rates.
Analysts were expecting $2.85 billion.
For fiscal 2013, the company forecast earnings growth of 5
percent to 8 percent and a sales increase of at least 4 percent.
Heinz shares rose to $58.90 in light premarket trade from a
Monday close at $58.72 on the New York Stock Exchange.