Coke Bottler Posts Lower Profit and Cuts Outlook - Download Free Phim, Nhac, Phan Mem, Karaoke

conmeo · #1 (**permalink**) 10-23-2008, 11:46 AM

Q3 EPS 46 cts matches Wall Street view

* Cuts 2008 EPS view to $1.25 to $1.29 from $1.40 to $1.45

NEW YORK, Oct 23 (Reuters) - Coca-Cola Enterprises Inc (NYSE:CCE) reported a lower quarterly profit on Thursday and slashed its full-year earnings outlook, due in part to a slowdown in North America.

The largest bottler of Coca-Cola Co (NYSE:KO) drinks said net income fell to $214 million, or 44 cents per share, in the third quarter, from $268 million, or 55 cents per share, a year earlier.

Excluding items, the company earned 46 cents per share, matching analysts' average estimate, according to Reuters Estimates.

Revenue rose to $5.74 billion from $5.41 billion a year ago, helped by a 1.5 percent increase in North American volume and a 3.5 percent increase in pricing per case.

"Our performance remains below our expectations as we work through a combination of significant marketplace challenges, including a weakened North American economic environment, changing consumer purchasing patterns and the impact of volatile fuel costs," said Chief Executive John Brock.

The company bottles and sells about 80 percent of all Coke drinks sold in North America and is the sole distributor in Britain, France and the Benelux countries.

Coke Enterprises lowered its full-year earnings per share outlook, saying it now expects 2008 profit of $1.25 to $1.29, excluding items. That is down from a prior forecast of $1.40 to $1.45 per share.

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)