Tupperware 4Q profit dips, but beats estimates (AP)

Tuesday, February 1, 2011 7:01 AM By dwi

ORLANDO, Fla. – Charges dragged Tupperware Brands Corp.'s fourth-quarter net income downbound 4 proportionality but strong income in markets much as Brasil and Bharat helped displace keyed results above analysts' expectations.

The seller of home, kitchen, beauty and personal tending products also forecast full-year keyed earnings above Wall Street's analyse and said weekday that it module improve and accelerate its have buyback plan. Shares jumped $6.17, or more than 13 percent, to $51.92 in farewell trading.

Tupperware earned $80.7 million, or $1.26 per share, for the period ended Dec. 25. That's downbound from $84.1 million, or $1.31 per share, a assemblage earlier. Excluding one-time charges to indite downbound the value of friendliness and other items, however, earnings chromatic to $1.38 per deal from $1.22 per share.

Revenue climbed 5 proportionality to $655 meg from $626 million, with 55 proportionality of income coming from emerging markets. Some of the strongest markets included Brazil, Bharat and the Philippines. In ingrained markets, Tupperware said income in Austria performed exceptionally well again this quarter, and U.S. and Canada income also increased. Sales in Australia, Germany, and Japan declined.

Analysts surveyed by FactSet due net income of $1.28 per deal on income of $650 million.

For the flooded year, net income climbed 29 proportionality to $225.6 million, or $3.53 per share, from $175.1 million, or $2.75 per share, in the preceding year. Adjusted earnings were $3.72 per share.

Annual income chromatic 8 proportionality to $2.3 1000000000 from $2.13 billion.

Tupperware said it expects first-quarter keyed earnings of 81 cents to 86 cents per share, and 2011 keyed earnings between $4.23 and $4.33 per deal with income up 6 proportionality to 8 proportionality in topical currency.

Analysts prognosticate first-quarter earnings of 81 cents per deal and full-year earnings of $4.14 per share, on average.

Tupperware boosted its buyback information to $600 meg from $350 meg and said it is speeding up have repurchases with the ingest of apiece year's proceeds from have option exercises, along with cash available at the end of the preceding year. The consort expects to repurchase $160 meg worth of shares in 2011.

The Orlando, Fla.-based consort also said that its board module likely evaluate its dividend rate annually in apiece year's prototypal quarter, starting in 2012. Dividend increases module be due to be most in distinction with profit increases.


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