Diamond Foods Trades Down After Q2 Results

Diamond Foods DMND released its fiscal second-quarter earnings results after the closing bell on Monday. The stock was trading down around 1 percent to $17.45 in the after hours session in the wake of the results. The company reported non-GAAP net income of $1.1 million or $0.05 per share. In the year ago period, the company reported non-GAAP EPS of $0.01. This missed analysts' consensus estimates of $0.06 per share by a penny. "Our second quarter results reflect continued progress against our key initiatives, which are aimed at driving margin expansion and a more sustainable topline growth profile over time," said Diamond's Chief Executive Officer Brian J. Driscoll. Consolidated sales at Diamond Foods in the quarter was $220.8 million, down from $262.4 million in last year's corresponding quarter. This also missed Wall Street consensus revenue estimates of $239.03 million.