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Jan 30 PepsiAmericas PAS.N, the No. 2 Pepsi
bottler, reported a 60 percent jump in fourth-quarter net
income helped by acquisitions, volume growth in Central Europe
and a weaker U.S. dollar, but forecast fiscal 2008 profit below
Wall Street view.
The company forecast fiscal 2008 earnings per share of
$1.77 a share to $1.83 a share, short of analysts' expectations
of $1.89 a share for the same period.
Minneapolis-based PepsiAmericas has followed a strategy of
inorganic growth and has pursued deals in Central and Eastern
Europe in an effort to capture a share of the rapidly growing
markets in these regions.
The company earned $42 million, or 32 cents a share, for
the quarter, versus $26.1 million, or 20 cents a share, a year
earlier. The current quarter included a charge of 1 cent a
Analysts were expecting a profit of 33 cents a share,
before special items, according to Reuters Estimates.
Revenue for the quarter rose to $1.1 billion, in line with
Wall Street estimates.
Volume growth in the United States continued to decline
this quarter but a net pricing growth of 3.8 percent helped
sales growth. Central European volume grew 56.1 percent.
Net sales in the U.S., which were about 71 percent of the
company's total for the quarter, rose 4 percent to $812.2
Shares of the company closed at $28.88 Tuesday on the New
York Stock Exchange.
(Reporting by Vikram Subhedar in Bangalore; Editing by Amitha