* Q4 adj EPS $0.91 vs est $0.91
* Q4 rev $924.5 mln, below Street view
* Sees 2010 EPS $2.49-$2.54 vs est $2.52
* Sees 2010 sales up 4 pct to 6 pct
Jan 28 (BestGrowthStock) – Spice maker McCormick & Co (MKC.N: )
posted an adjusted fourth-quarter profit (Read more your timing to make a profit.), in line with market
expectations, and forecast a positive 2010 outlook.
The company, which sells spices, seasonings and food
coloring, sees 2010 earnings between $2.49 and $2.54 a share,
compared with analysts’ expectation of $2.52 a share, according
to Thomson Reuters I/B/E/S.
McCormick expects 2010 sales to grow by 4 percent to 6
percent, including a 2 percent benefit related to current
foreign currency (Read more about trading foreign currency. exchange rates.
For the quarter, the company reported net income of $116.4
million, or 87 cents a share, up from $82.5 million, or 62
cents a share, a year earlier.
Excluding restructuring and other charges, the company
earned 91 cents a share.
Revenue at the Sparks, Maryland-based company rose
marginally to $924.5 million.
Analysts were looking for earnings of 91 cents a share,
before items, on revenue of $952.8 million.
Shares of the company closed at $37.54 Wednesday on the New
York Stock Exchange.
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(Reporting by Shradhha Sharma in Bangalore)
UPDATE 1-McCormick Q4 profit in line with Wall Street view
