Sara Lee Corp. (SLE) reported first quarter net income of $284 million or $0.41 per share, compared to $230 million or $0.32 per share last year.
Income from continuing operations was $190 million compared to $191 million in the prior year quarter. Earnings per share from continuing operations for the quarter were $0.27, same as prior year.
On average, 12 analysts polled by Thomson Reuters expect the company to report earnings of $0.16 per share. Analysts' estimates typically exclude special items.
Net sales declined to $2.59 billion from $2.79 billion in the year ago quarter. Adjusted net sales from continuing operations decreased 3.3% in the first quarter as a result of lower volumes and planned business exits. Nine analysts estimated revenues of $3.16 billion.
Looking ahead, the company raised its fiscal 2010 adjusted earnings per share outlook to $0.90 - $ 0.96, from previously expected range of between $0.84 and $0.90.
Sara Lee currently expects full-year fiscal 2010 earnings per share from continuing operations to be in the range of $0.82 to $0.86 per share. The company now predicts adjusted earnings per share from continuing operations in the range of $0.68 - $0.72 per share. Net sales, including discontinued operations for the year are now expected in the range of $12.9 billion - $13.2 billion.
Earlier, Sara Lee expected full-year fiscal 2010 earnings per share from continuing operations to be in the range of $1.03 to $1.09 per share, which includes $0.19 per share of contingent sale proceeds received in the first quarter of fiscal 2010 from the sale of its tobacco business in fiscal 1999. The company expected Adjusted earnings per share in the range of $0.84 - $0.90 per share. Previously, net sales for the year expected in the range of $12.9 billion - $13.2 billion.
Analysts expect the company to earn $0.89 per share, on revenues of $13.15 billion.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.