McCormick & Company Inc. reported record results for the first quarter ending Feb. 28. Sales were up 7 percent, consumer business rose 9 percent and industrial business sales grew by 5 percent. Corporate restructuring to increase profit margins and cost savings led to a gross profit margin of 40.5 percent, up 1.3 percentage points from the first quarter of 2006, and yielded stockholders earnings of 33 cents per share.”With our first quarter financial results, fiscal year 2007 is off to a great start,” Robert J. Lawless, chairman and chief executive officer, said in a released statement.
McCormick?s restructuring yields record 1Q earnings
Published March 28, 2007 4:00am ET
