WASHINGTON (dpa-AFX) - Spices and seasonings maker McCormick & Co. Inc. (MKC) posted third-quarter net income of $122.9 million, or $0.94 per share, compared to $104.4 million, or $0.78 per share, in the comparable quarter last year. On average, 10 analysts polled by Thomson Reuters expected the company to report earnings of $0.81 per share for the quarter. Analysts' estimates typically exclude special items.
McCormick's quarterly sales went up by 3% year-on-year to $1.04 billion, from $1.02 billion, with increases in both its consumer and industrial businesses. Eight analysts had consensus revenue estimate of $1.03 billion for the quarter.
For fiscal 2014, the company reaffirmed its projected 3% to 5% sales growth in local currency.
The company raised it adjusted earnings to a range of $3.30 to $3.37 per share, from its previous range of $3.22 - $3.29 per share. Analysts project annual earnings of $3.13 per share.
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