McCormick profit down, sales and earnings up
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Manufacturing News, Source : TheManufacturer.com
Published : 29 Sep 2004 17:03
Spice maker McCormick reported a decline in profit for its latest quarter of 4.1 percent, but also reported higher sales and earnings for the quarter.
McCormick had net income of $46.2 million for its third quarter, which ended August 31, down from $51.3 million during the same quarter one year earlier.
Earnings from continuing operations were up, at $46.2 million, from $40.1 million a year ago. Sales were also up, at $613.5 million, from $557.6 million one year ago. Industrial sales in particular, including fast-food restaurant sales, were up nine percent.
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