Pinnacle Foods Q4 Profit Rises - Quick Facts

(RTTNews) - Pinnacle Foods Inc. (PF) reported net earnings of $55.71 million or $0.48 per share for the 13 weeks ended twelve months ended December 29, 2013, compared to $43.66 million or $0.51 per share, for the 14 weeks ended December 30, 2012. On a pro forma basis, excluding items affecting comparability, net earnings advanced 11% to $67.6 million, or $0.58 per share. Adjusting for the impact of the 53rd week, the growth in pro forma net earnings, excluding items affecting comparability, was 15%.

On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.58 for the quarter. Analysts' estimates typically exclude special items.

Net sales increased to $709.32 million, from $705.06 million, last year. Consolidated net sales increased 0.6% from prior year, which included the $28 million benefit of the 53rd week. Excluding the 53rd week, net sales advanced 4.8%. Analysts expected revenue of $718.39 million for the quarter.

The company expects 2014 earnings per share in the range of $1.75 to $1.80, excluding the impact of non-cash, stock-based compensation expense. Including the expense, the company's earnings per share guidance range for 2014 is $1.70 to $1.75. Analysts expect the company to report fiscal 2014 earnings per share of $1.78.