Source Pravda.Ru

Heinz States Lower Income Results

New advertising campaign does not necessary boost sales, considering the example of Heinz.

H.J. Heinz Co. says its second-quarter revenue slipped 16 % from last year as the company's results were hurt by currency shifts.

But Heinz, like most food companies, has benefited during the recession from consumers eating at home more often, raising  sales rates.

Heinz also considerably improved its full-year earnings guidance.

The maker of Heinz Ketchup, Ore-Ida french fries and other food products earned $231.4 million, or 73 cents per share. That's down from $276.7 million, or 87 cents per share, a year earlier.

Sales rose 2 % to $2.67 billion.

The results topped analysts' forecast for profit of 69 cents per share on revenue of $2.63 billion, according to the Associated Press' observation.