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McCormick earnings see 4th-quarter rise

Baltimore Sun

Sparks-based spice maker McCormick & Co. Inc. on Thursday said earnings climbed 8 percent in the fourth quarter, helped by acquisitions and cost-cutting. Net income rose to $121.5 million, or 87 cents per share, in the three months that ended Nov. 30, compared with $111.2 million, or 62 cents per share, in the fourth quarter of 2008. The manufacturer said it expects strong sales and earnings in the current fiscal year thanks to new products and boosts in marketing. The results ended a strong fiscal year for the spice maker that included its biggest holiday marketing campaign ever. In the fourth quarter, consumer business sales in the Americas grew 5 percent, offsetting a decline in industrial sales. Total sales grew 2 percent in the fourth quarter, according to McCormick.

- Lorraine Mirabella




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