PepsiAmericas ( PAS) reported Wednesday that second-quarter earnings jumped 16%, helped by an increase in selling prices. The company also lifted its full-year earnings estimate.

The company earned $61.7 million, or 43 cents a share, compared with $53.2 million, or 37 cents a share, in the year-earlier period. Results in the latest quarter included an after-tax gain of $3.3 million and an after-tax charge of $1 million.

Excluding items, the Pepsi bottler earned 42 cents a share. Analysts were expecting 41 cents a share.

Total sales in the quarter increased 4.5% to $909.7 million. PepsiAmericas said sales benefited from an 8.1% increase in worldwide net selling prices.

By division, sales in the U.S. increased 6.9% to $774.7 million, but internationally sales dropped 7.8% to $135 million, hurt by a volume decrease of 28.1% in its central European operations.

Looking ahead, the Minneapolis-based company sees full-year earnings up 13% to 15% from its 2003 profit of $1.05 a share, excluding certain items. The Wall Street consensus is for $1.21 a share. Previously, the company had forecast full-year earnings growth of 9% to 11%.

Worldwide volume in the year is expected to be flat to down, based in part on the company's weak second-quarter volume in its central European division. Domestic volume is seen up about 1%, while net pricing is seen up 4%.

Shares of PepsiAmericas closed at $20.09 Tuesday on the New York Stock Exchange; they are up about 50% from a year ago.

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