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Edward Jones
McCormick reports sales growth, slip in profits
McCormick reports sales growth, slip in profits

McCormick & Co. Inc.'s sales grew 2 percent but profit slipped 15 percent in the first three months of its fiscal year — better-than-expected results that sent shares up Tuesday for the Sparks-based flavoring and spice company. The company, which is contining to expand in China and preparing to launch a line of gourmet spices in the United States, reported net income Tuesday of $70.5 million for the quarter that ended Feb. 28, down from $82.5 million a year earlier. Earnings per share slipped to 55 cents from 62 cents. But earnings would have climbed 13 percent to 70 cents per share, helped by a lower tax rate, without the impact of 15 cents per share in special charges,...

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