Heinz quarterly profit down on stronger dollar
H.J. Heinz Co posted lower quarterly profit on Thursday as the stronger dollar cut into sales overseas.
The company, which makes its namesake ketchup, Ore-Ida potatoes and Smart Ones frozen foods, also stood by its forecast for sales and earnings for fiscal year 2010.
Profit fell to $219.1 million, or 67 cents a share, in the first quarter ended July 29, from $234.3 million, or 72 cents a share, a year earlier.
For 2010, the company expects sales to rise 4 percent to 6 percent, excluding the impact of currency fluctuations, with earnings per share up 5 percent to 8 percent on that basis.
(Reporting by Brad Dorfman; Editing by Lisa Von Ahn)
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