Spices and seasonings maker McCormick & Co. Inc. (MKC: Quote) Tuesday reported a higher first-quarter profit, as sales rose 6 percent with solid increases in both its consumer and industrial businesses. The acquisition of WAPC accounted for a significant portion of sales growth in Consumer business. Both earnings per share as well as revenues topped analysts' expectations.
Looking ahead to the second quarter, the company expects only a slight increase in earnings per share, and reaffirmed its financial outlook for fiscal year 2014.
For the first quarter ended February 28, 2014, the company's net income increased to $82.5 million or $0.62 per share from $76 million or $0.57 per share in the previous year.
http://www.rttnews.com/2291518/mccormick-q1-results-beat-estimates-reaffirms-fy14-view.aspx?type=ts
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