Del Monte posts net sales increase in first quarter

San Francisco-based Del Monte Foods Company (DLM) reported first quarter results Thursday that included net sales of $753.5 million, an increase of 11.8 percent from the same quarter last year.

Earnings per share were down to $0.02, compared to $0.04 last year.

Richard G. Wolford, company chairman and CEO, attributed the sales growth to pet acquisitions, new products and strong growth in areas such as fruit sales, but cautioned that rising ingredient prices pose an ongoing challenge.

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