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The company attributes the gain in large part to double-digit sales growth in frozen dinners like Healthy Choice, Marie Callender's and Banquet. Other brands including Alexia, Hebrew National, Hunt's, Orville Redenbacher's, Peter Pan, Reddi-wip and Snack Pack also posted double-digit sales growth.
Net income was down 13 percent for the quarter ended May 31 compared with the same period a year ago. In last year's fourth quarter ConAgra benefited from earnings in a trading and merchandising unit that it sold last June.
Net income for the three months ended in May was $174.7 million, or 39 cents a share, compared with $201.3 million or 41 cents a share last year.
Sales grew 7.5 percent in the fourth quarter to $3.29 million from last year's $3.06 million.
ConAgra also benefited from an extra week in the fourth quarter, which also allowed for additioanl marketing and innovation investments.
ConAgra estimated that fiscal 2010 earnings from continuing operations will be $1.63 to $1.66 a share, excluding one-time items.
ConAgra said costs of the tragic explosion June 9 at its Slim Jim meat snacks plant in North Carolina that killed three people and shut down the plant would largely be covered by insurance. Costs impacting the company would be reported in fiscal 2010 as one-time items.
Earnings for fiscal 2009 from continuing operations were $1.52 a share. Including discontinued operations, ConAgra earned $2.15 a share on the year.
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