Despite recall, ConAgra beat estimates

Packaged food maker ConAgra posted better-than-expected third-quarter profit Thursday, as cost-cutting measures helped offset expenses from a peanut butter recall prompted by a salmonella outbreak.

The company also said it expects full-year profit to be at the high end of its previous forecast range.

ConAgra, which makes Orville Redenbacher's popcorn and Healthy Choice meals, said profit was $192.6 million, or 38 cents a share, for the fiscal third quarter ended Feb. 25, compared with a loss of $25.2 million, or 5 cents a share, a year earlier. The year-earlier loss includes a $122.9 million loss from discontinued operations.

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- Posted: 2007-03-22 10:26:28

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