UPDATE: ConAgra FQ3 Profit Down 57.2%

ConAgra Foods

reported a 57.2% drop in its fiscal third-quarter earnings. ConAgra's quarterly earnings fell to $120 million, or $0.29 per share, versus $280.1 million, or $0.68 per share, in the year-ago period. Its adjusted earnings came in at $0.55 per share, versus analysts' estimates of $0.56 per share. Its net sales climbed to $3.85 billion from $3.4 billion. The company announced a dividend of $0.25 per share. ConAgra shares closed at $35.54 yesterday.