Windham-based organic and natural foods distributor United Natural Foods Inc.’s quarterly profit beat market expectations on tighter expense control and lower fuel costs, and the company raised its 2009 earnings outlook, according to Reuters.
The company, which bought Millbrook Distribution Services in November 2007 to expand its specialty distribution business consisting of ethnic, kosher, gourmet, organic and natural foods, said gross margins rose marginally to 19 percent mainly due to improved margins at its specialty division.
Based on operating efficiencies and cost controls, the company raised its 2009 earnings outlook to a range of $1.34 to $1.38 a share, from its prior view of $1.28 to $1.36 a share.
For the third quarter ended May 2, the company, located in Windham’s Dayville section, earned $16.8 million, or 39 cents a share. Analysts were looking for 34 cents a share, according to Reuters Estimates.
Revenue came in at $889.5 million, while operating expenses fell 2 percent to $138.3 million.
At 11 a.m. United Natural Foods traded at $26.33, up $3.03, or 13 percent.
