WASHINGTON (dpa-AFX) - (Amended to include adjusted earnings that beat the street estimates)
Lamb Weston Holdings, Inc. (LW) announced earnings for fourth quarter that decreased from the same period last year, but beat the Street estimates.
The company's bottom line came in at $32.0 million, or $0.22 per share. This compares with $65.5 million, or $0.44 per share, in last year's fourth quarter.
Excluding a write-off of net investment in Russia, adjusted earnings for the quarter were $0.65 per share.
Analysts on average had expected the company to earn $0.51 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 13.9% to $1.15 billion from $1.01 billion last year.
Lamb Weston Holdings, Inc. earnings at a glance (GAAP) :
-Earnings (Q4): $32.0 Mln. vs. $65.5 Mln. last year. -EPS (Q4): $0.22 vs. $0.44 last year. -Analyst Estimates: $0.51 -Revenue (Q4): $1.15 Bln vs. $1.01 Bln last year.
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