H.J. Heinz Profit Falls on Hain Write-Down

Fox News ^ | February 28, 2005

[paudio]

CHICAGO — Ketchup maker H.J. Heinz Co. (HNZ) posted sharply lower third-quarter profits Monday, as the ketchup-maker said strong business in North America couldn't make up for rising fuel costs, soaring commodity prices and a large write-down.

Earns for the quarter ending Jan. 26 was $152.4 million, or 43 cents per share. During the same period last year, the company earned $202.2 million, or 57 cents per share.

The company reported $73.8 million in impairment charges during the third quarter, largely due to a write-off of an investment in the Hain Celestial Group Inc (HAIN).

Excluding impairment charges and 4 cents per share from discontinued operations, Heinz would have reported income of $212.4 million, or 60 cents per diluted share.

[paudio]

Did the 2004 election bring bad luck for the company?

[WorkingClassFilth]

"...due to a write-off of an investment in the Hain Celestial Group Inc."

Maybe all the bean sprout and tofu eating new-age Lefties are so depressed they can't eat.

http://www.hain-celestial.com/

[NonValueAdded]

or 60 cents per diluted share

See, they are watering down the ketchup! _{I'm kidding!}

[Bob Eimiller]

I don't buy Heinz products anymore.... BTW I also avoid any Clinton supporter companies like Tyson Foods, Ben and Jerry or Breyer Ice Cream etc. as well.

Avoiding anything French is a given!

[sgtbono2002]

I hope my buying Hunts Ketchup had something to do with it.

[benjaminjjones]

Ben and Jerry

I gave up Ben & Jerry's too when I found out how Pinko they were.

I have to confess I lapsed the other night when I saw a new flavor, "Gobfather", in my Italian neighborhood. It was just too funny.

I do miss their flavors and strange combinations.

[smokeyb]

Not buying Heinz products is not hurting Teresa or John Other than any value they have in stock they hold. It's a public company. All you are hurting are the stockholders (of which you may be one and not know it) and the employees working there.

[sport]

I don't purcases any Heinze products.

I do not knowingly use any Heinze products.

if I am eating in a restaruant that has Heinze condinentments, I do not use them.

I still have half a bottle of Heinze catsup in the refridge.

[Peach]

Did we ever find out how Kerry paid back that multi-million dollar loan he took out against his wife's house?

As I recall, it was illegal for him to use campaign funds.

[gidget7]

could it be??? that so many of us are boycotting anything Heinz, that it really had an effect?

[Bob Eimiller]

Do you think I care....? Did you ever consider that the other companies I patronize are affected positively?

You certainly must be a Democrat.... you seem to be of the limited "single pie" minded economy.

A little lesson... When I use Hunts ketchup or buy my local company's ice cream, I'm actually helping someone keep their job...and the investors benefit from increased profits... Get it??

[GeronL]

I wonder if sales of Del Monte and Hunt's ketchup are up??

[GeronL]

So??

Howard Heinz Endowment ($862M) chaired by Tarayza

Heinz Family Foundation ($73.9M) chaired by Tarayza

Vira I. Heinz Endowment ($444.8M) chaired by Taraza... just like the Tides Foundation and Tides Center.

The woman is a radical leftist and she does own a part of the company right?

Anyway we should also boycott TARGET, TEXACO-CHEVRON, Hewlett-Packard, Aetna, American Express, Ben & Jerry, Freddie Mac, Fannie Mae, Verizon, Sara Lee, Harper's, New York Times, Playboy and Kellogg's.

All of these are corporations that give large sums of cash to LEFTIST causes through their foundations, these foundations are funded by these companies today. So does the Bill and Melinda Gates Foundation BTW

---

We need to make it clear to these companies that we do not like what they are doing

[Mind-numbed Robot]

I quit buying anything Heinz so it is probably my fault.

[Humidston]

We're in perfect agreement. Around our house it's Hunts, Sanderson Farms chicken, and wonderful (TX) Blue Bell ice cream.

As for anything French? NO WAY, JOSE!

[timestax]

[timestax]

[GOPJ]

I didn't plan on giving up Heinz catsup, but when I reach for it, I think " Kerry and Tra ray sazzz", and can't buy the stuff. Same with Ben and Jerry. We must not be alone.

I don't buy Heinz products anymore.... BTW I also avoid any Clinton supporter companies like Tyson Foods, Ben and Jerry or Breyer Ice Cream etc. as well.

[FR_addict]

When a company has a great advertizing campaign and their profits go up, it helps the little guy keep his job. In this case Theresa brags about her connections to Heinz, gave little Heinz bottles away,etc. It had a negative effect on the company.

I'd rather help the little guy at the other ketchup companies keep their jobs. It's called a free economy, my choice, as to which companies products, I buy. Heinz would do well to distance themselves from Teresa.

[Redleg Duke]

Same here. In fact, when my son and I go to Bob Evans for breakfast, he asks the waitperson to remove the Heinz ketchup bottle! Smart kid, that son of mine! :-)