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Friday, February 4, 2011

Fortune Brands profit beats; separation on track, (NYSE: FO)

Consumer goods maker Fortune Brands Inc (FO.N) posted a sharply higher quarterly profit that topped Wall Street's expectations, helped by strength across all its businesses, and said its plan to separate was on track. The maker of Jim Beam bourbon, Moen faucets and Titleist golf balls said all three of its businesses performed above its expectations, and its shares rose nearly 5 percent in premarket trading. Net income was $85.4 million, or 55 cents per share, in the fourth quarter, compared with $11.5 million, or 8 cents per share, a year earlier.

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