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.
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