The Pepsi Bottling Group posts Q3 2008 results

Oct 01, 2008 (M2 EQUITYBITES via COMTEX) -- PBG | Quote | Chart | News | PowerRating -- Manufacturer, seller and distributor of Pepsi-Cola beverages The Pepsi Bottling Group Inc (NYSE: PBG | Quote | Chart | News | PowerRating) on 30 September reported third quarter 2008 results for the period ended 6 September 2008.

Revenues for the quarter were USD3.8bn, up by 2% as compared with revenues of USD3.7bn in the third quarter of the prior year. For the year-to-date period revenues were USD10.0bn, as compared with USD9.6bn in the corresponding year-to-date period of the prior year.

Net income for the quarter was USD231m or USD1.06 per diluted share. This was in comparison with net income of USD260m or USD1.12 per diluted share in the corresponding quarter of the prior year.

For the year-to-date period net income was USD433m or USD1.94 per diluted share, as compared with USD451m or USD1.94 per diluted share in the corresponding period of the prior year.

PPG also provided guidance for 2008 of top-line growth in the mid-single digits. Comparable operating profit is expected to grow in the low-single digits for 2008. Comparable diluted earnings per share for 2008 are expected to be USD2.32 to USD2.38 and operating free cash flow is expected to be approximately USD620m.

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