TreeHouse Foods,a US-based food manufacturer,has reported that its net income decreased by 29%to$21.5m for the third quarter ended 30 September 2012,compared to$30.3m for the same period in 2011.
The company reported earnings of$0.58 per fully diluted share for the period,compared to$0.82 per fully diluted share for the same period in 2011 and a 1.9%increase in net sales to$538.1m,compared to$528m for the corresponding period in the last year.
Besides,net sales for the nine-months of 2012 increased by 4.6%to$1.58bn,compared to$1.51bn in 2011.Net earnings declined by 2.17%to$63.1m,compared to$64.5m in 2011.
TreeHouse Foods chairman,president and chief executive officer Sam Reed said,"We are encouraged by the start to our fourth quarter and see good acceptance of our new single serve coffee products.Even our soup business,that had been challenging of late,has shown better sales then we previously expected."
The company updated its full year guidance to$2.75 to$2.85.
