Tupperware Brands Inc. (TUP: Quote) Wednesday released the financial results for the first quarter of 2012 ended 31st March 2012, stating that net profit for the quarter increased to $58.3 million, or $1.02 per share, higher that net income of $55.3 million, or $0.88 per share reported for the year-ago quarter.
Adjusted earnings for the first quarter were $1.03 per share, compared with $0.90 per share reported for the year-ago quarter.
Eight analysts polled by Thomson Reuters estimated earnings of $0.96 per share for the quarter. Analysts' estimates usually exclude special items.
Quarterly net sales increased slightly to $639.5 million from $636.4 million reported in the first quarter of 2011. Five analysts polled by Thomson Reuters estimated revenues of $624.51 million.
Looking ahead, the company expects earnings for the second quarter to be in the range of $1.34 to $1.39 per share, and adjusted earnings between $1.23 and $1.28 per share. Analysts' consensus currently sees earnings of $1.32 per share for the second quarter.
For the full-year 2012, earnings are anticipated between $4.96 and $5.06 per share, with adjusted earnings projected in the range of $5.00 and $5.10 per share. Market consensus expects 2012 earnings of $5.04 per share.
by RTT Staff Writer
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