UPDATE: Hillshire Brands FQ4 Profit Beats Estimates

Hillshire Brands Co

reported better-than-expected fiscal fourth-quarter results. The Chicago, Illinois-based company posted quarterly income from continuing operations of $27 million, or $0.22 per share, versus $35 million, or $0.28 per share, in the year-ago period. Excluding special items, the company's operating income rose to $0.33 per share from $0.26 per share. Its revenue jumped 11% to $1.06 billion. However, analysts were expecting earnings of $0.26 per share on revenue of $994 million. Hillshire's net sales in the retail division climbed 8.5%, while the food service division's sales climbed 16.7% in the quarter. Sean Connolly, president and chief executive officer of The Hillshire Brands Company said, "Despite acute cost inflation, we delivered better than expected performance through a disciplined approach to brand building, pricing and cost management." As a result of the proposed merger, Hillshire is not providing public targets for FY15. Hillshire shares rose 0.14% to $62.76 in pre-market trading.