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Empresas y finanzas

Fortune Brands quarterly profit beats estimates


    BANGALORE (Reuters) - Fortune Brands Inc reported a higher-than-expected quarterly profit on Friday, bolstered by cost cuts, but the consumer products maker trimmed the top end of its full-year outlook.

    The maker of Moen faucets, Jim Beam bourbon and Titleist golf equipment said net income was $99.8 million, or 66 cents a share, in the second quarter, compared with $136.0 million, or 88 cents a share, a year earlier.

    Excluding items, the company earned 70 cents a share. Analysts on average were expecting 63 cents, according to Reuters Estimates.

    Net sales fell 17 percent to $1.74 billion.

    For 2009, the company cut the top end of its earnings outlook to $2.30 a share from $2.50, while keeping the low end at $2.00.

    (Reporting by Dhanya Skariachan in Bangalore; Editing by Lisa Von Ahn)