NEW YORK: ConAgra Foods has posted a quarterly profit slightly ahead of Wall Street estimates and raised its long-term outlook,pshwu, citing increased cost-savings from its acquisition of Ralcorp Holdings.ConAgra, whose shares rose 4.7 per cent in early trading,kwpt, closed its $5 billion purchase of Ralcorp in January, making it the leading US manufacturer of private label foods, which retailers brand as their own. It also sells branded products, including Chef Boyardee pasta and Hunt s ketchup.The company said it now expects $300 million of annual savings from the acquired business by the end of fiscal 2017,burberry bags, up from an original estimate of $225 million. In the fiscal fourth quarter,air max, ended May 26,99ms, net income was $192.2 million,nike free run 3, or 45 cents per share, compared with a net loss of $86.2 million,http://www.99ms.net/, or 21 cents per share,ustri, a year earlier.Excluding one-time items,tdkr, profit was 60 cents per share. On that basis,celine bag, analysts on average were expecting 59 cents per share,cheap ghd, according to Thomson Reuters.Net sales jumped 34 per cent to $4.59 billion, just shy of analysts average estimate of $4.60 billion. Sales in the consumer foods segment rose 7 per cent,true religion jeans outlet, due largely to acquisitions and growth of brands including Peter Pan peanut butter,Isabel Marant Shoes, Hebrew National hot dogs and Marie Callender s meals. Sales in the commercial foods segment rose 4 per cent.In the current quarter, ConAgra said earnings would be flat due to significant marketing costs associated with the introduction of new summer products. Subsequent quarters should see profit growth,cheap air max, it said. For the full year, it forecast earnings of $2.40 per share.That is below analysts average estimate of $2.48 per share. The company cited two issues at its commercial foods segment, which sells potato and milled grain products to restaurants and other customers. Reuters
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