Feb 21 H.J. Heinz Co reported
higher-than-expected quarterly earnings on Thursday, helped by
strength in emerging markets.
The ketchup maker, which plans to be acquired by Berkshire
Hathaway and 3G Capital, said net income was $269.5
million, or 83 cents per share, in the quarter, down from $284.7
million, or 88 cents per share, a year earlier.
Excluding one-time items, earnings from continued operations
were 99 cents per share. On that basis, analysts on average were
expecting 90 cents per share, according to Thomson Reuters
Sales rose 2 percent to $2.93 billion. Pricing contributed 2
percentage points of growth with volume adding only 0.3
Sales jumped some 18 percent in emerging markets, which
represented 23 percent of total company sales. Top markets
included Latin America, Indonesia and China.