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Brown-Forman Inc
BF reported a 5% drop in its third-quarter profit.
Brown-Forman's quarterly profit dropped to $133.1 million, or $0.93 per share, from $140.7 million, or $0.96 per share, in the year-earlier period. Its revenue fell to $959 million from $962.4 million. However, analysts were expecting earnings of $1.01 per share on revenue of $947.6 million.
Brown-Forman projects 2012 earnings of $3.50 to $3.65 per share, versus analysts' estimates of $3.64 per share.
Brown-Forman shares closed at $78.09 yesterday.
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