UPDATE: Diamond Foods Posts Upbeat Q1 Adjusted Profit
Diamond Foods (NASDAQ: DMND) reported better-than-expected Q1 adjusted profit.
On a net basis, Diamond Foods posted a quarterly loss of $10.7 million, or $0.49 per share, versus year-ago earnings of $10.8 million, or $0.47 per share. Excluding special items, the company earned $0.24 per share, versus analysts' estimates of $0.23 per share.
Its net sales dropped 10% to $258.5 million.
Diamond Foods shares dropped 2.58% to $13.60 in after-hours trading.
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