American Italian Pasta Co. (AIPC) said its first-quarter net income slipped to $20.70 million or $0.95 per share from $26.03 million or $1.23 per share a year ago. On average, 7 analysts polled by Thomson Reuters expected earnings per share of $0.77 for the quarter. Analysts' estimate typically excludes one-time items.
Revenues for the first quarter declined to $148.95 million from $171.21 million in the comparable period. Five analysts estimated revenues of $152.14 million for the quarter.
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