Beam Inc. (BEAM) reported first-quarter net income of $114.5 million or $0.71 per share, compared to $79.1 million or $0.49 per share last year. Excluding charges and gains, profit per share from continuing operations was $0.64, up 21% from $0.53 in the year-ago quarter. Net sales increased to $577.7 million from $533.8 million last year.
On average, 11 analysts polled by Thomson Reuters expected the company to report profit of $0.54 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $565.93 million for the quarter.
The company reaffirmed its target to deliver high-single-digit growth in profit per share before charges/gains for 2013.
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