(RTTNews) -  Dr Pepper Snapple Group, Inc. (DPS: News ) reported that its third- quarter net income was $151 million or $0.59 per share, compared to $106 million or $0.41 per share in the same quarter last year. Earnings per share, excluding certain items, for the quarter were $0.54, compared to $0.45 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.49 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter were $1.43 billion, compared to $1.49 billion in the prior year quarter. Five analysts had consensus revenue estimate of $1.44 billion for the quarter.

The company raised its 2009 reported earnings outlook to a range of $2.12 - $2.16 per share, from the prior range of $2.03 - $2.11 per share.

Excluding net gains related to distribution agreement changes and separation-related tax items, the company now expects 2009 earnings to be in the range of $1.92 - $1.96 per share, compared to prior range of $1.88 - $1.96 per share.
The company now expects full year 2009 net sales to be down 3% - 4%. Excluding the loss of Hansen product distribution and on a currency neutral basis, the company now expects net sales to grow approximately 2%. Earlier, the company expected full year net sales to be down 2% to 4%. Excluding the loss of Hansen product distribution and currency fluctuations, the company still expected net sales to grow 2% to 4%.

Analysts expect the company to report earnings of $1.97 per share on revenues of $5.55 billion for fiscal 2009.

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by RTT Staff Writer

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