* EPS $0.76 vs Wall St $0.72 view
* Sales up 18 percent to $899.8 million
* Raises sales forecast
* Shares up 3.6 percent
CHICAGO, April 28 Baby formula maker Mead
Johnson Nutrition Co (MJN.N) posted a higher-than-expected
quarterly profit and raised its full-year outlook on strong
sales in emerging markets, sending its shares to an all-time
The maker of Enfamil formula has seen demand grow in Asia
and Latin America, as the United States has had a decline in
the birth rate. The company's Asia/Latin America segment posted
a 27 percent sales increase in the quarter and now accounts for
64 percent of the company's sales.
Mead Johnson said on Thursday profit in the quarter first
quarter rose to $146.1 million, or 71 cents a share, from
$125.6 million, or 61 cents a share, a year earlier.
Excluding one-time items, earnings were 76 cents a share,
compared with the average Wall Street estimate of 72 cents a
share, according to Thomson Reuters I/B/E/S.
Sales rose 18 percent to $899.8 million, beating the
average analyst estimate of $848 million.
The company also said it now expects full-year earnings of
$2.62 to $2.70 a share, excluding one-time items, up from its
previous forecast of $2.55 to $2.65. analysts on average
forecast $2.66 a share.
Mead Johnson shares were up $2.23 at $64.22 on Thursday on
the New York Stock Exchange.
(Reporting by Brad Dorfman, editing by Dave Zimmerman)