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Article: Multifoods net earnings up for third quarter, nine months. (International Multifoods Corp.)
- Article from:
- PR Newswire
- Article date:
- December 22, 1988
CopyrightCOPYRIGHT 1988 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MULTIFOODS NET EARNINGS UP FOR THIRD QUARTER, NINE MONTHS
MINNEAPOLIS, Dec. 22 /PRNewswire/ -- International Multifoods Corp. today reported an increase in net earnings for its third quarter and nine months ended Nov. 30, 1988, due to improved operating earnings.
For the quarter, net earnings were up 6 percent to $11.3 million, or 78 cents per share, despite a reduction of 8 cents per share due to a higher effective tax rate. Operating earnings before interest expense and income taxes rose 16 percent to $27.9 million, compared to the same period a year ago. Net sales were up 10 percent to $508.4 million.
For the nine months, net ...