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FEBRUARY 2, 2006

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.

Copyright © 2006 Dow Jones & Company, Inc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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