Tupperware profit beats estimates; raises FY view
NEW YORK, Oct 20 (Reuters) – Tupperware Brands Corp TUP.N
reported better-than-expected third quarter earnings on Tuesday
on cost cuts and strength in emerging markets, and raised its
full-year outlook, and its shares rose 4.5 percent.
Tupperware, known for its food storage containers, said
net income for the quarter rose to $32.3 million, or 50 cents a
share, from $27.5 million, or 43 cents a share, a year
Excluding charges, Tupperware earned 54 cents per share,
beating analysts’ average estimate of 42 cents, according to
Thomson Reuters I/B/E/S.
The company, which also sells personal care products under
names including NaturCare and Fuller Cosmetics, said sales were
strong in the Asian Pacific region, led by India, Indonesia,
Korea, and Malaysia/Singapore.
Net sales rose to $514 million from $513.1 million in the
year ago period.
For the full year, the company now sees sales to rise in
local currency versus 2008 by 5 percent to 6 percent, up from
its prior range of a rise of 3 percent to 5 percent.
Excluding 34 cents in one-time items, it sees earnings of
$2.84 to $2.89 a share, up from its previous outlook of $2.59
to $2.64 a share.
Tupperware shares were up 4.5 percent at $46 in after-hours
trade from their close at $44.01 on the New York Stock