Diamond Foods Swings To Profit

Diamond Foods Inc. reported late Thursday a fiscal third-quarter profit of $6.3 million, or 20 cents a share, reversing a year-ago loss of $105.6 million, or $3.63 a share. Adjusted to exclude one-time items, the company earned $7.4 million, or 23 cents a share. Revenue for the three months ended April 30 fell 2.5% to $186.1 million from $190.9 million. Analysts surveyed by FactSet had predicted the San Francisco-based snacks and nuts company would earn 14 cents a share on $195.3 million in revenue. The company nudged higher its full-year outlook, predicting an adjusted 2015 profit of $1.00 to $1.10 a share compared with 95 cents to $1.10 previously. Following the report, Diamond Foods shares were up 3% at $29.90.