Sara Lee Issues Weak Sales Guidance: "
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DOWNERS GROVE, Ill. (TheStreet) -- Sara Lee booked better-than-expected fourth-quarter earnings on an adjusted basis as sales rose, but the foodmaker forecast fiscal 2012 revenue below analysts' consensus call.
Sara Lee said Thursday it earned $111 million, or 19 cents a share, in its fiscal fourth quarter ended July 2, down 40.6% from year-earlier earnings of $187 million, or 28 cents a share. Excluding one-time items, profit came in at 24 cents share, beating analysts' estimates by 4 cents. Analysts typically exclude one-time items when forecasting earnings estimates.
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