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Earnings Calls: 
Del Monte Foods Company First Quarter Earnings Call
Author: Maclintosh Kuhlengisa
123jump.com
Last Update: 5:11 AM EDT September 10 2007


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The branded food company reported net sales growth of 11.8% to $753.5 from $674.1 million in the prior year quarter, reflecting volume growth, including the impact of the pet acquisitions and growth from new products, as well as net pricing actions. Combating cost increases continues to be a top priority going forward. Full year EPS is expected to be at the low-end of previously communicated range of 70 cents to 74 cents.


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Rick Wolford: From a competitive point of view, we''ll keep that to ourselves.

Farha Aslam: Going forward into next year, do you anticipate having the tax credits from the tuna business?

Rick Wolford: It has been in place for a long time with the industry, and we have no reason to believe that it would change.

Farha Aslam: Should we be concerned about the talk of increased wages in American Samoa?

Rick Wolford: It is factored into our numbers. We''re working with the US Congress, and with the industry, and with the elected leaders of Samoa, to come to a solution that is a satisfactory one, and to ensure that we can stay competitive in the Samoan market.

Eric Serotta: Have you seen any increase in competitive activity with the re-stage of Friskies in dry cat?

Rick Wolford: The pet category is a continually changing and very competitive environment. There have been a couple of initiatives that have come out that were supported by big dollars that have not been much of an impact on our business. The Friskies deal shows nothing out of the ordinary in terms of what we normally deal with in the marketplace. We are also pleased with what we''ve seen in terms of our Meow Mix/Milk-Bone business, as well as the Meow Mix cups which is a good competitive example of where innovation has helped us.
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