Pet product sales slip at Del Monte Foods

Higher prices and new products helped Del Monte Foods Co. post higher sales and profit for its latest quarter, though the maker of canned fruit, vegetables and pet foods said energy costs would hurt its full-year bottom line.

The San Francisco-based maker of Contadina sauces, Starkist tuna and Kibbles ‘n Bits dog food earned $43.9 million, or 22 cents a share, for the second quarter ended Oct. 30, compared with $41.6 million, or 20 cents a share, a year ago.

Sales came in at $882.3 million, a 4.2 percent gain on the back of “increased pricing and volume growth from new products, partially offset by expected volume loss associated with price increases,” the company said.

The average estimates of analysts polled by Thomson Financial had been for Del Monte to earn 19 cents a share on sales of $854 million.

Sales of consumer products were up just more than 7 percent while pet product sales fell 4 percent.

Del Monte makes Kibbles ‘n Bits at a plant at 727 N. Iowa St.

Shares of Del Monte rose 69 cents, or 7 percent, to close at $10.57 Thursday on the New York Stock Exchange.