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Heinz Reports Third-Quarter EPS From Continuing Operations, Excluding Special Items, Of $0.99 ($0.95 Reported)

Stocks in this article: HNZ

ABOUT HEINZ: H.J. Heinz Company, offering “Good Food Every Day”™ is one of the world’s leading marketers and producers of healthy, convenient and affordable foods specializing in ketchup, sauces, meals, soups, snacks and infant nutrition. Heinz provides superior quality, taste and nutrition for all eating occasions whether in the home, restaurants, the office or “on-the-go.” Heinz is a global family of leading branded products, including Heinz® Ketchup, sauces, soups, beans, pasta and infant foods (representing over one third of Heinz’s total sales), Ore-Ida® potato products, Weight Watchers® Smart Ones® entrées, T.G.I. Friday’s® snacks, and Plasmon infant nutrition. Heinz is famous for its iconic brands on six continents, showcased by Heinz® Ketchup, The World’s Favorite Ketchup®.

           
 
H.J. Heinz Company and Subsidiaries
Consolidated Statements of Income
 
Third Quarter Ended Nine Months Ended
(In Thousands, Except per Share Amounts)

January 27, 2013 FY 2013

 

January 25, 2012 FY 2012

January 27, 2013 FY 2013

 

January 25, 2012 FY 2012

Sales $ 2,933,331 $ 2,874,927 $ 8,538,315 $ 8,495,904
Cost of products sold 1,826,816   1,841,329   5,416,840   5,511,796  
Gross profit 1,106,515 1,033,598 3,121,475 2,984,108
Selling, general and administrative expenses 638,654   607,070   1,841,487   1,814,210  
Operating income 467,861 426,528 1,279,988 1,169,898
Interest income 6,149 6,690 22,295 25,626
Interest expense 71,091 72,542 213,069 218,104
Other expense, net (14,104 ) (2,580 ) (18,098 ) (3,289 )
Income from continuing operations before income taxes 388,815 358,096 1,071,116 974,131
Provision for income taxes 77,333   67,268   169,957   191,904  
Income from continuing operations 311,482 290,828 901,159 782,227
Loss from discontinued operations, net of tax (38,668 ) (3,589 ) (72,079 ) (19,893 )
Net income 272,814 287,239 829,080 762,334
Less: Net income attributable to the noncontrolling interest 3,268   2,545   12,063   14,517  
Net income attributable to H.J. Heinz Company $ 269,546   $ 284,694   $ 817,017   $ 747,817  
Income/(loss) per common share:
Diluted
Continuing operations attributable to H.J. Heinz Company common shareholders $ 0.95 $ 0.89 $ 2.75 $ 2.37
Discontinued operations attributable to H.J. Heinz Company common shareholders (0.12 ) (0.01 ) (0.22 ) (0.06 )
Net income attributable to H.J. Heinz Company common shareholders $ 0.83   $ 0.88   $ 2.53   $ 2.31  
Average common shares outstanding - diluted 323,218   322,713   323,048   323,538  
Basic
Continuing operations attributable to H.J. Heinz Company common shareholders $ 0.96 $ 0.90 $ 2.77 $ 2.39
Discontinued operations attributable to H.J. Heinz Company common shareholders (0.12 ) (0.01 ) (0.22 ) (0.06 )
Net income attributable to H.J. Heinz Company common shareholders $ 0.84   $ 0.89   $ 2.55   $ 2.32  
Average common shares outstanding - basic 320,745   320,159   320,523   320,850  
Cash dividends per share $ 0.515   $ 0.48   $ 1.545   $ 1.44  
Amounts attributable to H.J. Heinz Company common shareholders:
Income from continuing operations, net of tax $ 308,214 $ 288,283 $ 889,096 $ 767,710
Loss from discontinued operations, net of tax (38,668 ) (3,589 ) (72,079 ) (19,893 )
Net income $ 269,546   $ 284,694   $ 817,017   $ 747,817  
(Totals may not add due to rounding)
 
 




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