Snack-food maker Lance Inc posted lower-than-expected quarterly profit, hurt by weakness at its branded product segment, sending its shares down as much as 4 percent.
The company also said it expects its acquisition of specialty cookie brand Stella D'oro, which it completed in October, to add to its results going forward.
"There was a slight dilution with special items as related to Stella in the fourth quarter. But going forward we should see a positive trend for Stella,"Chief Financial Officer Rick Puckett said in a conference call with analysts.
In 2010, Lance expects earnings per share to grow by 25 percent to 35 percent and revenue growth of 5 percent to 7.5 percent. In 2009, the company earned $1.11 a share, including an integration charge of 2 cents related to the Stella D'oro deal, on revenue of $918.2 million.
