Summary Box: ConAgra Foods earnings rise

AP News
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Posted: Jun 23, 2011 12:43 PM
Summary Box: ConAgra Foods earnings rise

THE NEWS: Higher food prices and an insurance settlement helped ConAgra's fourth-quarter net income more than double.

THE NUMBERS: ConAgra's fourth-quarter net income more than doubled to $254.9 million, or 61 cents per share, for the quarter. Adjusted earnings from continuing operations rose to 47 cents per share.

HIGHER COSTS: The maker of Slim Jim, Healthy Choice and Chef Boyardee warned that first-quarter earnings may fall below last year's numbers as the company faces higher costs for ingredients and other raw materials. It plans to raise prices further to compensate if necessary.