Reply #22: ConAgra profit more than triples [View All]

OMAHA, Neb. - Despite ongoing costs of recalling its Peter Pan peanut butter, ConAgra Foods Inc. reported its fourth-quarter profit soared Wednesday compared with results weighed down by restructuring charges a year ago.

The food company said a strong quarter from its commodities trading division helped it post a profit of $192 million, or 39 cents per share, during the quarter that ended May 27 versus a profit of $59.2 million, or 11 cents per share, a year ago.

Revenue rose to $3.33 billion from $2.94 billion a year ago.

The latest results include a cost of 2 cents per share, or about $18 million pretax, related to the nationwide recall of all of ConAgra's peanut butter products and a 1 cent per share benefit from lower than expected taxes.

http://news.yahoo.com/s/ap/20070627/ap_on_bi_ge/earns_conagra_foods