UPDATE 1-Sysco Q4 profit tops estimates

lunes 11 de agosto de 2008 18:45 CEST

(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) ((sriram.iyer@thomsonreuters.com ; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: sriram.iyer.reuters.com@reuters.net))