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Dr Pepper Snapple Group reports lower quarterly profit
Dr Pepper Snapple Group has reported third-quarter 2010 diluted earnings of $0.60 per share, including $0.04 of strike-related costs, compared to $0.59 per share in the prior year period.
Diluted earnings per share were $0.60 compared to $0.54 in the prior year, excluding separation-related tax items. Year-to-date, the company reported earnings of $1.68 per diluted share compared to $1.73 per share in the prior year period.
Excluding a separation-related foreign deferred tax charge in the current year and a net gain on certain distribution agreement changes and separation-related tax items in the prior year, the company earned $1.73 per diluted share, an increase of 13%, compared to $1.53 in the prior year-to-date period.
Highlights
- Third-quarter reported diluted earnings per share were $0.60, including $0.04 of strike-related costs.
- Bottler case sales up 2%. Reported net sales up 2% on 1% sales volume growth.
- Year-to-date, company repurchased $910m of common stock.
- Full year 2010 reported diluted EPS expected to be $2.30 to $2.38. Excluding the separation-related foreign deferred tax charge, diluted EPS expected to be $2.35 to $2.43.
Read the full Dr Pepper Snapple Group financial statement at this link.
Source: Dr Pepper Snapple Group
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