Sysco 4Q profit rises 10 percent

Food distributor Sysco Corp. said Monday its fourth-quarter profit jumped 10 percent, helped by managing costs and a boost in sales.

For the quarter ended June 28, net income rose to $334.1 million, or 55 cents per share, from $303.4 million, or 49 cents per share in the prior year quarter.

Analysts polled by Thomson Financial expected profit of 52 cents per share.

The company said it was able to grow its profit because it effectively managed costs in the quarter.

Revenue rose 5 percent to $9.73 billion from $9.23 billion in the fourth quarter of 2007. Analysts predicted revenue of $9.87 billion.

For the year, net income climbed nearly 11 percent to $1.11 billion, or $1.81 per share, from $1 billion, or $1.60 per share in 2007.

Revenue jumped 7 percent to $37.52 billion from $35.04 billion.

Sysco sells and distributes food products to restaurants, health care facilities, schools and hotels. The company also distributes equipment and supplies.

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