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Liquor maker Brown-Forman says 2nd-qtr profit up 2 percent on strong Jack Daniel's sales
LOUISVILLE, Ky. (AP) ' Liquor maker Brown-Forman Corp. says fiscal second-quarter prose rose 2 percent on higher sales of its Jack Daniel's whiskey, and gains in vodka and tequila brands.
Brown-Forman says sales in its August-October quarter rose in the U.S., and even more overseas.
The Louisville, Ky., company reports net income of $157.6 million, or $1.09 per share, in the second quarter. That's up from $154 million, or $1.05 per share, from a year ago.
Revenue rose 12 percent to $1.01 billion.
Analysts polled by FactSet expected earnings of $1.09 per share on revenue of $957.4 million.
But the company says a stronger dollar has tempered earlier profit expectations. It predicts full-year earnings per share of $3.45 to $3.70 from previous guidance of $3.45 to $3.85 per share.
Analysts expect $3.68 per share.