SOURCE: Industrial Info Resources

September 23, 2009 06:54 ET

Consumer Food Sales Boost ConAgra's Profits, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - September 23, 2009) - Researched by Industrial Info Resources (Sugar Land, Texas) -- ConAgra Foods Incorporated (NYSE:CAG) (Omaha, Nebraska) recently reported earnings for the 2010 fiscal first quarter, which ended August 30. The company's net sales were down 3.1%, although total operating profits were up 22% from the same period last year. In a press release, ConAgra noted that "significantly higher commodity costs in the year-ago period created a favorable profit comparison in the current quarter," in regard to the company's Consumer Foods segment, which accounted for 63% of the company's sales. Industrial Info is currently tracking more than $375 million of ConAgra's projects in the U.S. and Canada.

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