Diamond Foods Inc. (DMND) Monday posted third-quarter net loss of $15.6 million or $0.71 a share, compared with net loss of $44 million or $2.02 a share last year.
Excluding items, adjusted earnings for the quarter were $1 million or $0.05 a share, compared with net loss of $5 million or $0.22 a share in the prior year.
On average, 8 analysts polled by Thomson Reuters estimated a loss of $0.17 a share for the quarter. Analysts' estimates typically exclude special items.
Sales for the quarter were $185 million, compared with $207.7 million a year ago. Analysts estimated sales of $175.78 million.
The company noted that consistent with the outlook provided in the second quarter, net sales are expected to decline more in the back half of the fiscal year than the first half, compared with last year. Therefore, fourth quarter sales are expected to decline more than in the third quarter, driven primarily by the Nuts Segment.
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