FLOWERS FOODS INC (FLO) 24.93 $0.00 (0.00%) 09:08AM (15 mins delay)

Flowers Foods Posts 16% Uptick in Profits

Nov 11, 2009 - 9:44 AM EST

Packaged baked goods manufacturer Flowers Foods (FLO) said today its net income popped 16 percent for the third quarter, and it narrowed its profit and sales outlook. Flowers Foods posted earnings of $31.9 million, or 34 cents per share, as compared to $27.4 million, or 29 cents per share, in the same quarter last year. Sales hit $602.6 million, about four and half percent higher than the same quarter last year. The company is now looking for fiscal year 2009 sales up about 8 percent, in a range of $2.6 to $2.61 billion, down from a prior forecast of $2.65 to $2.68 billion in sales. It also trimmed the high end of its earnings outlook, now looking for full year 2009 earnings per share in a range of $1.37 to $1.40, excluding items. For MarketNewsVideo.com, I'm Justin Shackil.

Source: Market News Video (Nov 11, 2009 - 9:44 AM EST)