WASHINGTON (dpa-AFX) - Mead Johnson Nutrition Co. (MJN) posted second quarter profit of $165.8 million or $0.81 per share versus $132.1 million or $0.64 per share last year.
Adjusted net earnings attributable to shareholders totaled $171.2 million, or $0.83 per share, compared with $148.7 million, or $0.72 per share, in the same quarter a year ago.
On average, 14 analysts polled by Thomson Reuters expected the company to report earnings of $0.77 per share. Analysts' estimates typically exclude special items.
Net sales grew to $1.01 billion from $932.0 million last year. Analysts estimated revenues of $1.00 billion.
Looking ahead, the company anticipates slower growth in the second half of 2012. Annual constant dollar sales are now expected to grow in the range of 8 to 9 percent compared to the 9 to 11 percent sales growth anticipated earlier in the year. Slower growth in China is partially offset by an improvement in the company's U.S. business.
The company's full-year 2012 non-GAAP earnings are still estimated in the range of $3.04 to $3.14 per share. Analysts expect earnings of $3.13 per share.
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