Corn Products 4Q profit rises |
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Tue, 30 Jan 2007 13:56
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WESTCHESTER, Ill. (AFX) - Corn Products International Inc., which makes food ingredients from corn, said Tuesday increased sales pushed its fourth-quarter profit up 40 percent.Earnings rose to $32.9 million, or 43 cents per share, from $23.5 million, or 31 cents per share, in the year-ago period.Analysts surveyed by Thomson Financial were expecting net income of 42 cents per share.Revenue for the quarter increased to $686.7 million, up 17 percent from $585.6 million in the prior year. The company said the results improved on a favorable price/product mix, volumes and currency translations. Sales grew in North America, South America and its Asia/Africa market.Consensus estimates had revenue at $640 million.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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