ConAgra Foods Presents Business Update at Prudential Conference and via Webcast
September 07 2006 - 7:15AM
Business Wire
Today ConAgra Foods, Inc. (NYSE:CAG) will present a business update
to the Prudential Back-To-School Consumer Conference in Boston, MA.
In his remarks, ConAgra Foods President and Chief Executive Officer
Gary Rodkin will discuss progress with the ongoing cultural,
portfolio, and cost savings initiatives which were originally
outlined for investors at the ConAgra Foods Analyst and Investor
Event on March 16, 2006 in New York City. Today's event is being
webcast and, with the March 16 event, will be archived on the
company's web site under the section for investors. In his remarks,
Rodkin will indicate that he is pleased with progress thus far in
fiscal 2007 largely because of the favorable impact of more
efficient operations. -- Because the company has not yet closed its
books for the first quarter, the company will not provide specific
earnings information about the first quarter of fiscal 2007; it
will discuss the first quarter performance in its regularly
scheduled earnings release and conference call on September 21. --
Mr. Rodkin will confirm previously communicated objectives for
sales to ramp to 2-3% annual growth in the 2008-2009 time frame,
and for EPS to show 7%-9% annual growth during the 2008-2009
timeframe as well. EPS growth rate expectations relate to
continuing operations and exclude items impacting comparability and
the impact of deployment of divestiture proceeds. Webcast A webcast
of the ConAgra Foods' presentation at the Prudential Securities
Back-to-School Consumer Conference is available and can be accessed
live on the Internet at www.conagrafoods.com/investors at 9:45 a.m.
EDT. In addition, an archived webcast of the ConAgra Foods
presentation at the Prudential Securities Back-to-School Consumer
Conference will be available and accessible on the Internet at
www.conagrafoods.com/investors following the event. ConAgra Foods,
Inc. (NYSE:CAG) is a leading packaged food company, serving grocery
retailers, as well as restaurants and other foodservice
establishments. Popular ConAgra Foods consumer brands include:
Banquet, Chef Boyardee, Egg Beaters, Healthy Choice, Hebrew
National, Hunt's, Marie Callender's, Orville Redenbacher's, PAM,
Reddi-wip, and many others. Note on Forward-Looking Statements:
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These statements are based on management's current views and
assumptions of future events and financial performance and are
subject to uncertainty and changes in circumstances. The company
undertakes no responsibility to update these statements. Readers of
this release should understand that these statements are not
guarantees of performance or results. Many factors could affect the
company's actual financial results and cause them to vary
materially from the expectations contained in the forward-looking
statements. These factors include, among other things, future
economic circumstances, industry conditions, availability and
prices of raw materials, product pricing, competitive environment
and related market conditions, operating efficiencies and the
company's ability to execute its operating plans, access to
capital, actions of governments and regulatory factors affecting
the company's businesses and other risks described in the company's
reports filed with the Securities and Exchange Commission. The
company cautions readers not to place undue reliance on any
forward-looking statements included in this release, which speak
only as of the date made.
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