Ralcorp Holdings Inc. (RAH) reported that its fourth-quarter net earnings were $79.9 million or $1.40 per share, compared to $41.1 million or $0.90 per share in the same quarter last year. Fourth quarter earnings per share excluding items were $1.14 compared to $0.84 last year, a 36% increase. Analysts polled by Thomson Reuters expected the company to report earnings of $1.24 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter were $983.2 million, compared to $873.5 million in the prior year quarter. Seven analysts had consensus revenue estimate of $1.01 billion for the quarter.
In a separate press release, Ralcorp Holdings announced that its board has authorized the repurchase of up to seven million shares of the company's common stock.
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