Diamond Foods Q4 Profit Tops Estimate; Revenue Falls Short

(RTTNews) - Snack food company Diamond Foods, Inc. (DMND) reported net income for the fourth quarter of $7.9 million or $0.25 per share, compared to a net loss of $1.9 million or $0.06 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $7.2 million or $0.23 per share, compared to $6.2 million or $0.19 per share for the year-ago quarter.

Net sales for the quarter fell 7.9% to $201.81 million from $219.07 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.21 per share on revenue of $210.09 million for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecasts fiscal 2016 adjusted earnings of $1.21 to $1.32 per share. Analysts currently expect the company to earn $1.27 per share for the fiscal year 2016.