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Sara Lee, Del Monte Post Quarterly Earnings

Sara Lee Corp. today said net income fell almost 5 percent in its fiscal first quarter as the company increased marketing spending and faced higher raw material prices, Reuters reported. The food and consumer goods company said it earned $242 million in the period ended Sept. 29, compared with $254 million one year ago. Its sales rose 1.4 percent to $4.52 billion. Excluding businesses divested as part of a restructuring program, sales rose 9 percent, partly because of the acquisition of Earthgrains and business gains in packaged meats, the company said.

Del Monte Foods Co. today reported a slight loss for its fiscal first-quarter due to costs associated with plant closings, but acquisitions and price increases drove sales higher, Reuters reported. Del Monte, with brands such as Contadina, S&W and Sunfresh, said it lost $800,000 for the quarter, ended Sept. 30, compared with a profit of $6.4 million a year ago.
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