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Ketchup maker H.J. Heinz Co. (NYSE:HNZ - news) on Tuesday posted a 23 percent drop in net profit, and fell short of Wall Street estimates, as its tax rate rose and the stronger dollar cut into the value of overseas sales. Analysts said part of the earnings miss was because some operations that were reclassified by the company as discontinued had been classified as ongoing operations by analysts when they made their estimates. "At least part of the apparent miss was due to the sale of businesses in Europe, as Heinz streamlines its operations there -- a plan that we...

Pittsburgh -- H.J. Heinz Co., one of the world's largest food producers, said on Tuesday that its fiscal third-quarter earnings fell 24 percent because of high costs related to downsizing and divestitures. Quarterly net income fell to $116.6 million, or 35 cents per share, for the three months ended Jan. 25 from $152.4 million, or 43 cents per share, in the year-ago quarter. Revenue rose 6 percent to $2.19 billion from $2.07 billion the previous year. Earnings from continuing operations totaled 39 cents per share. Earnings from continuing operations, excluding reorganization, impairment costs and other items, was 50 cents per...

A variety of Heinz products are seen at a convenience store in Golden, Colorado February 28, 2006. H.J. Heinz Co. on Tuesday posted a 23 percent drop in net profit, and fell short of Wall Street estimates, as its tax rate rose and the stronger dollar cut into the value of overseas sales. REUTERS/Rick Wilking

H.J. Heinz Company Seeks to Keep Name Out of Presidential Race Posted on Mon, Mar. 29, 2004 H.J. Heinz Company Seeks to Keep Name Out of Presidential RaceBy James O'Toole, Pittsburgh Post-Gazette Knight Ridder/Tribune Business NewsMar. 27 - Seeking to keep itself from getting entangled in the presidential election campaign, the H.J. Heinz Co. insists that there should be no political considerations in what kind of ketchup you put on your freedom fries.Reacting to agitation and speculation carried on conservative talk radio and the Internet, the Pittsburgh-based food firm issued a press release this week emphasizing that Teresa Heinz Kerry,...