Heinz Meets Forecasts But Issues Warning
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H.J. Heinz Co. said its fiscal first-quarter earnings, excluding restructuring charges, fell to 61 cents a share from 69 cents a year ago, matching analyst expectations. But the Pittsburgh-based food company warned that profit in the current quarter could miss Wall Street expectations, citing higher energy costs and a strong dollar. Revenue edged up 0.6% to $2.19 billion.
Net income, including restructuring charges, was $200.5 million, or 57 cents a share, compared with $204.5 million, or 58 cents, a year ago.
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