7 November 2006 - Performance Food Group Co.'s third-quarter net income rose 5.2% to $12 million, or 35 cents a share, from $11.4 million, or 27 cents a share, a year earlier, boosted by the divestiture of its fresh-cut business and an increase in net sales.
The Richmond, Va., food-related products maker on Tuesday said net sales from continuing operations increased 2% to $1.43 billion from $1.4 billion in the year-earlier quarter.
Analysts polled by Thomson First Call, on average, expected third-quarter earnings of 34 cents a share, on revenue of $1.43 billion.
Performance Food said the year-ago quarter included a $1.1 million loss from its recently sold fresh-cut segment, which was partially offset by $640,000 in gains from the unit's sale.