Pinnacle Foods Turns Profitable, Thanks to Wish-Bone Salad Dressings

Popular salad dressings are making Pinnacle Foods profitable again. The packaged food producer successfully pulled off a turnaround in the latest quarter. Profit turned positive to 30 cents a share. It was a little bit below expectations, but much better than a year earlier. Revenue rose 9% to $618 million, which is still slightly below estimates. Pinnacle Foods acquired Wish-Bone salad dressings in the second half of 2013. It has proven to be a wise decision because sales growth primarily came from these salad dressings. CEO Bob Gamgort believes Pinnacle Foods is on track for a solid year. He said, 'Our business model has proven to be resilient in a food industry characterized by weak growth and heavier promotional spending. We have been able to strike the right balance between investing in our brands, remaining price competitive and delivering strong earnings growth.'