Fortune Brands Inc reported earnings in line with its recent forecast on Friday, saying the stability of its spirits business helped temper the impact of the challenging economy.

The maker of Moen faucets, Jim Beam bourbon and Titleist golf equipment said net income tumbled 94 percent to $7.4 million, or 5 cents per share, in the first quarter, from $120.5 million, or 77 cents per share, a year earlier.

Excluding items, the company earned 30 cents per share, in line with the analysts' average outlook, according to Reuters Estimates, and the forecast it gave earlier this week ahead of its annual shareholders' meeting.

The company also affirmed its 2009 earnings outlook, as it did on Tuesday, saying it expected to earn $2 to $2.50 per share this year, excluding items.

Analysts were expecting $2.29 per share for the year.

(Reporting by Martinne Geller; Editing by Lisa Von Ahn)