Sara Lee 4Q Net Income Falls

Thu, 08/11/2011 - 6:32am

DOWNERS GROVE, Illinois (AP) -- Sara Lee Corp. said its fiscal fourth-quarter profit fell 41 percent even as revenue rose. Its adjusted results met analysts' expectations.

The Downers Grove, Illinois food company, which is working on splitting into two businesses, also gave fiscal 2012 adjusted earnings and revenue outlooks below Wall Street's estimates on Thursday.

Sara Lee earned $111 million, or 19 cents per share, for the period ended July 2. That's down from $187 million, or 28 cents per share, a year ago. Adjusted earnings from continuing operations were 20 cents per share.

Revenue climbed 9 percent to $2.3 billion from $2.11 billion, topping Wall Street's projected $2.28 billion.

Sara Lee expects fiscal 2012 adjusted earnings of 89 cents to 95 cents per share. Analysts predict $1.07 per share.



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