United Natural 2010 Guidance In Line With Street

DAYVILLE, Conn. (AP) — United Natural Foods Inc. issued a fiscal 2010 earnings outlook in line with Wall Street expectations on Wednesday after reporting an increase in 2009 profit.

The food distributor said it expects per-share earnings between $1.48 and $1.58 for the fiscal year ending July 31. The company did not provide a revenue outlook.

Analysts surveyed by Thomson Reuters forecast, on average, $1.56 per share for the year.

The company also said it expects to complete a new broadline distribution facility in Texas in the fourth quarter of 2010, with operations beginning the following year.

United Food reported its fiscal 2009 earnings rose 22 percent to $59.2 million, or $1.38 per share.

Shares fell $1.23, or 4.4 percent, to $26.71 in premarket trading.