ConAgra Foods puts together a solid quarter

Packaged food company ConAgra Foods Inc reported earnings of $203 million for the fiscal third quarter ended Feb 22, 2004. This compares with earnings of $161 million for the same period a year earlier. Sales were $3.6 billion, about equal with the prior year; comparatively, sales were 4% ahead of the year before after adjusting for $155 million of sales from divested businesses the year earlier.

For the first nine months of fiscal 2004, earnings were $668 million versus $624 million the previous year. Sales were $10.8 billion, below sales of $13.5 billion the year before due to divestitures. Sales were up 2% comparatively after adjusting for $2.9 billion of sales from divested businesses in prior-year results.