March 18, 2010 / 11:01 AM / 8 years ago

UPDATE 1-Canada's Premium Brands Q4 results miss estimates

* Revenue falls 5 pct

March 18 (Reuters) - Food products maker Premium Brands Holdings Corp (PBH.TO) posted fourth-quarter results that missed market estimates, weighed down by weakness in all its sales channels, but said it is optimistic about 2010.

“We are optimistic about our prospects for 2010, particularly with the positive impact that Vancouver’s hosting of the 2010 Winter Olympics has had on some of our businesses during a time that is historically slow,” Chief Executive George Paleologou said in a statement.

The producer, marketer and distributor of branded specialty food products earned C$3.3 million, or 19 Canadian cents a share, in the fourth quarter ended Dec. 26. That compared with C$3.2 million, or 18 Canadian cents a share, in the year-ago period.

Before items, the company posted earnings of C$4.3 million, or 25 Canadian cents a share.

Revenue fell to C$111.2 million.

Analysts on average were expecting the company to earn 32 Canadian cents a share, on revenue of C$120.2 million, according to Thomson Reuters I/B/E/S.

Shares of the Richmond, British Columbia-based company closed at C$14.75 Wednesday on the Toronto Stock Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Ratul Ray Chaudhuri)

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