Sara
Lee 2Q Net Up On Meats, Overseas Operations,
Sale
CHICAGO
(AP)--Food
and household goods company Sara Lee Corp.
(SLE)
(SLE),
whose brands include Jimmy Dean packaged
meats, Hanes underwear and its namesake
baked goods, said Thursday its second-quarter
profit rose 34%, aided by strength in its
domestic packaged meats and overseas businesses
and a gain from the sale of a business.
For
the quarter that ended Dec. 31, Sara Lee
(SLE)
reported net income of $438 million, or
57 cents per share, versus a prior-year
profit of $326 million, or 41 cents per
share.
Sales
declined 1% to $4.45 billion from $4.51
billion a year ago. The quarter's results
were bolstered by a gain from the sale of
the direct selling business and a related
tax benefit, which together contributed
35 cents per share. Sara Lee (SLE)
in August 2005 said it would sell its direct
selling business to Tupperware Corp. for
$557 million, a transaction that was scheduled
to have closed during the quarter.
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© 2006 Dow Jones & Company, Inc.
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