H J Heinz Co

H.J. Heinz Co. said its fiscal first-quarter earnings, excluding restructuring charges, fell to 61 cents a share from 69 cents a year ago, matching analyst expectations. But the Pittsburgh-based food company warned that profit in the current quarter could miss Wall Street expectations, citing higher energy costs and a strong dollar. Revenue edged up 0.6% to $2.19 billion. Net income, including restructuring charges, was $200.5 million, or 57 cents a share, compared with $204.

H.J. Heinz Co. said it will buy Borden Foods' pasta sauce, dry bouillon and soup businesses. Terms were not disclosed. The businesses' annual sales in the United States and Canada total more than $270 million. The brands involved include Classico pasta sauce, Aunt Millie's pasta sauce and Wyler's bouillons and soups. The products are made at plants in Pennsauken, N.J., and Northbrook, Ill. Borden Foods is an affiliate of Borden Inc.

H.J. Heinz Co., the world's biggest ketchup maker, said its second-quarter profit fell 10% after it spun off some businesses. Sales of some of its frozen foods brands, such as Ore-Ida potatoes, also declined, hurt by the growing popularity of low-carbohydrate diets. Net income fell to $191.5 million, or 54 cents a share, from $212.1 million, or 60 cents, a year earlier. Sales declined less than 1% to $2.09 billion for the Pittsburgh-based company. Shares of Heinz rose 52 cents to $36.

H.J. Heinz Co. agreed to buy the HP Foods and Lea & Perrins sauce divisions from Groupe Danone of France for $852 million in a move that one analyst says positions Heinz to possibly gain global control of the sauce market. Danone's sauce brands, marketed primarily in Britain, the U.S. and Canada, accounted for close to $292 million in revenue last year, Danone said.