Corn Products International, Inc. (CPO) reported net income attributable to CPI of $53 million, or $0.70 per share, for the third quarter of 2009, compared to $88.1 million or $1.15 per share for the same period last year.
On average, 6 analysts polled by Thomson Reuters expected the company to report earnings of $0.63 per share. Analysts' estimates typically exclude special items.
Net sales declined to $970.6 million from $1.08 billion in the year ago quarter. Three analysts estimated revenues of $983.27 million.
The company said it is narrowing its full-year 2009 earnings guidance to a range between $1.80 - $2.00 per share, excluding the after tax impact of impairment and restructuring charges of $1.47 per share taken in the second quarter of 2009, versus the previous range of $1.70 to $2.10.
Analysts expect the company to earn $1.90 per share.
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