* Q4 EPS $0.25 vs est $0.18
* Raises FY10 EPS view to $1.70-$1.80
* Sees Q1 EPS $0.70-$0.85
Sept 30 (Reuters) - Nuts and snacks seller Diamond Foods Inc posted a fourth-quarter profit that beat market estimates, helped by higher snack sales, and raised its 2010 earnings view.
For the quarter ended July 31, the company, which makes and sells cooking nuts under the Diamond label and snack nuts under the Emerald brand, posted net profit of $4.2 million, or 25 cents a share, compared with $2.6 million, or 16 cents a share, last year.
Net sales grew marginally to $113.8 million as higher snack sales, which more than doubled, were offset by an increase in promotion spending on culinary nuts and a drop in non-retail walnut sales.
Analysts on average were expecting the company to earn 18 cents, before items, on revenue of $113.5 million, according to Reuters Estimates.
The company now sees 2010 per-share profit in the range of $1.70 to $1.80, up from its prior view of $1.55 to $1.70. It expects net sales of $585 million to $605 million for the year.
The company sees first-quarter earnings of 70 cents to 85 cents a share.
Shares of Diamond closed at $31.72 Wednesday on Nasdaq.
(Reporting by Abhishek Takle in Bangalore; Editing by Ratul Ray Chaudhuri) Keywords: DIAMONDFOODS/ (abhishek.takle@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters messaging: abhishek.takle.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Raises FY10 EPS view to $1.70-$1.80
* Sees Q1 EPS $0.70-$0.85
Sept 30 (Reuters) - Nuts and snacks seller Diamond Foods Inc posted a fourth-quarter profit that beat market estimates, helped by higher snack sales, and raised its 2010 earnings view.
For the quarter ended July 31, the company, which makes and sells cooking nuts under the Diamond label and snack nuts under the Emerald brand, posted net profit of $4.2 million, or 25 cents a share, compared with $2.6 million, or 16 cents a share, last year.
Net sales grew marginally to $113.8 million as higher snack sales, which more than doubled, were offset by an increase in promotion spending on culinary nuts and a drop in non-retail walnut sales.
Analysts on average were expecting the company to earn 18 cents, before items, on revenue of $113.5 million, according to Reuters Estimates.
The company now sees 2010 per-share profit in the range of $1.70 to $1.80, up from its prior view of $1.55 to $1.70. It expects net sales of $585 million to $605 million for the year.
The company sees first-quarter earnings of 70 cents to 85 cents a share.
Shares of Diamond closed at $31.72 Wednesday on Nasdaq.
(Reporting by Abhishek Takle in Bangalore; Editing by Ratul Ray Chaudhuri) Keywords: DIAMONDFOODS/ (abhishek.takle@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters messaging: abhishek.takle.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.