UPDATE 1-Sysco Q4 profit tops estimates
(Recasts, adds details, share movement)
Aug 11 (Reuters) - Food distributor Sysco Corp (SYY.N: Cotización) reported fourth-quarter profit that beat market expectations on tighter cost control, sending its shares up as much as 5 percent.
The Houston, Texas-based company posted a net income of $334.1 million, or 55 cents per share, up from $303.4 million, or 49 cents a share, a year earlier.
Total sales rose 5.4 percent to $9.73 billion.
Analysts were expecting earnings of 52 cents as share, before special items, on revenue of $9.87 billion, according to Reuters Estimates.
Gross profit rose 5.6 percent, while operating expenses were up 4 percent for the period.
The company, whose rivals include McLane Foodservice and U.S. Foodservice, said operating income increased 10 percent to $1.9 billion.
Shares of the company were up $1.36 at $31.23 Monday on the New York Stock Exchange. (Reporting by Sriram Iyer in Bangalore; Editing by Anil D'Silva) ((firstname.lastname@example.org ; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: email@example.com))
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