ConAgra Foods Reports Strong Second-Quarter EPS

ConAgra Foods reported results for the fiscal 2010 second quarter ended Nov. 29, 2009. Diluted EPS from continuing operations was $0.55 compared with $0.38 a year ago. Current quarter results include $0.03 per diluted share of net benefit, and prior year amounts included $0.05 of net expense, from items impacting comparability. Diluted EPS from continuing operations was up 45% as reported and 21% on a comparable basis. Items impacting comparability in the current year and prior year are summarized on ConAgra's Website with information including:

• Diluted EPS from continuing operations of $0.55 as reported, and $0.52 excluding items impacting comparability; up 45% as reported and up 21% on a comparable basis.
• Consumer Foods’ operating profits increased 31%.
• Consumer Foods’ sales increased 3% and unit volumes increased 2%.
• Commercial Foods’ operating profits increased 1%.
• Fiscal 2010 diluted EPS from continuing operations, excluding items impacting comparability, now expected to approach $1.73.