Diamond Foods Swings To Profit

(RTTNews) - Diamond Foods Inc (DMND) Monday reported first-quarter net earnings of $7.7 million or $0.24 per share compared with a loss of $42 million or $1.92 per share last year.

Excluding items, adjusted earnings for the quarter were $0.28 per share compared with $0.21 per share a year ago.

Diamond Foods is a packaged food company that processes, markets, and distributes snack products and nuts.

The company's revenues for the quarter were $246.6 million compared with $234.7 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.25 per share on revenues of $253.5 million for the quarter. Analysts' estimates typically exclude special items.

For the fiscal year 2014, the company continues to expect adjusted earnings of $0.90 to $1.10 per share, while analysts expect $1.03 per share.