Diamond Foods Profit Tops Estimates; Lifts Lower End Of FY Earnings Guidance

(RTTNews) - Snack products and nuts company Diamond Foods Inc (DMND) on Thursday reported third-quarter net earnings of $6.3 million or $0.20 per share. This compares with a loss of $105.6 million or $3.63 per share last year, when it incurred hefty loss on debt extinguishment.

Excluding items, adjusted earnings for the quarter were $0.23 per share compared with earnings of $0.11 per share a year ago.

Revenues for the quarter were $186.1 million compared with $190.9 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.15 per share on revenues of $195.3 million for the quarter. Analysts' estimates typically exclude special items.

For the full year 2015, the company now expects adjusted earnings of $1.00 to $1.10 per share compared with prior guidance of $0.95 to $1.10 per share. Analysts expect earnings of $1.04 per share.