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Fortune Brands Announces Expectation For First Quarter EPS, Increase In Free Cash Flow Target And Action On Dividend; Each Business Performed At or Above Company's Expectations; Company Reaffirms Full-Year Earnings Target; Increases 2009 Target for Free Cash Flow from Range of $100-200 Million to Range of $400 Million; Enhances Financial Flexibility with Proactive Cash-Management Initiatives and Reduction in Dividend Rate.

Publication: M2 Presswire
Publication Date: 28-APR-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
M2 PRESSWIRE-28 April 2009-Fortune Brands, Inc.: Fortune Brands Announces Expectation For First Quarter EPS, Increase In Free Cash Flow Target And Action On Dividend; Each Business Performed At or Above Company's Expectations; Company Reaffirms Full-Year Earnings Target; Increases 2009 Target for Free Cash Flow from Range of $100-200 Million to Range of $400 Million; Enhances Financial Flexibility with Proactive Cash-Management Initiatives and Reduction in Dividend Rate(C)1994-2009 M2 COMMUNICATIONS LTD

RDATE:28042009

Deerfield, Illinois, -- Fortune Brands, Inc. (NYSE: FO), the company behind leading consumer brands including Jim Beam, Titleist and Moen, today announced its expectation for first quarter 2009 results, which it will report on Friday, May 1.

In advance of its annual meeting of shareholders today, the company announced that it anticipates reporting diluted earnings per share for the quarter of approximately $0.05, and excluding one-time items, EPS before charges/gains in the range of $0.30.

"Each of our businesses performed at or above our expectations in navigating what we expected to be the most difficult quarter of the year," said Bruce Carbonari, chairman and chief executive officer of Fortune Brands. "While economic conditions and the...

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