ConAgra Net Income Doubles

ConAgra says its fourth-quarter net income more than doubled thanks to higher food prices and an insurance settlement.

OMAHA, Neb. (AP) -- ConAgra says its fourth-quarter net income more than doubled thanks to higher food prices and an insurance settlement.

The maker of Slim Jim and Chef Boyardee earned $254.9 million, or 61 cents per share, for the period ended May 29. That's up from $90.6 million, or 20 cents per share, a year earlier.

Adjusted earnings from continuing operations rose to 47 cents per share from 38 cents per share, the company said Thursday.

Analysts expected 48 cents per share.

Revenue climbed 5 percent to $3.21 billion, just edging out Wall Street expectations.

ConAgra Foods Inc., based in Omaha, Neb., expects fiscal 2012 adjusted earnings per share to climb by a low- to mid-single digit percentage rate from fiscal 2011's $1.75 per share.

Analysts forecast $1.87 per share.

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