Dr Pepper Snapple Group Inc. (DPS: Quote) reported that its first quarter net income declined to $102 million, from $114 million in the same quarter last year. Earnings per share were $0.48 compared to $0.50 in the prior year period.
Excluding $0.02 per share of unrealized commodity mark-to-market gains, Core Earnings per share were $0.46 compared to $0.50 in the prior period.Analysts polled by Thomson Reuters expected the company to report earnings of $0.48 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter rose to $1.36 billion from $1.33 billion in the prior year quarter. Ten analysts had consensus revenue estimate of $1.36 billion for the quarter.
The company continues to expect full year 2012 reported net sales growth near the low end of its long-term 3% to 5% range and Core earnings per share to be in the $2.90 to $2.98 range. Analysts expect the company to report earnings of $2.93 per share on revenues of $6.06 billion for fiscal 2012.
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by RTT Staff Writer
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