Consumer Food Sales Boost ConAgra's Profits

SUGAR LAND--September 23, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--ConAgra Foods Incorporated (NYSE:CAG) (Omaha, Nebraska) recently reported earnings for the 2010 fiscal first quarter, which ended August 30. The company's net sales were down 3.1%, although total operating profits were up 22% from the same period last year. In a press release, ConAgra noted that "significantly higher commodity costs in the year-ago period created a favorable profit comparison in the current quarter," in regard to the company's Consumer Foods segment, which accounted for 63% of the company's sales. Industrial Info is currently tracking more than $375 million of ConAgra's projects in the U.S. and Canada.