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Pinnacle Foods fiscal Q1 profit climbs 6.8% YOY

Pinnacle Foods Inc. said its normalized net income for the fiscal first quarter ended March 29 came to 38 cents per share, compared with the S&P Capital IQ consensus estimate of 39 cents per share.

EPS rose 6.5% year over year from 36 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $44.9 million, an increase of 6.8% from $42.1 million in the year-earlier period.

The normalized profit margin climbed to 6.8% from 6.5% in the year-earlier period.

Total revenue increased year over year to $665.3 million from $644.0 million, and total operating expenses grew year over year to $571.9 million from $552.4 million.

Reported net income came to $41.0 million, or 35 cents per share, compared to $40.8 million, or 35 cents per share, in the prior-year period.