PARSIPPANY, N.J. (AP) _ B&G Foods Inc. (BGS) on Thursday reported second-quarter net income of $44.9 million.
On a per-share basis, the Parsippany, New Jersey-based company said it had profit of 70 cents. Earnings, adjusted for costs related to mergers and acquisitions, were 71 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The food producer posted revenue of $512.5 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $509.6 million.
B&G Foods shares have risen 54% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $27.59, an increase of 50% in the last 12 months.