Sara Lee Posts $14 Million Loss

Sara Lee says it posted a smaller fiscal fourth-quarter loss as impairment charges declined from a year ago.

Unfavorable exchange rates still dampened revenue for the food maker.

The maker of Sara Lee breads, Jimmy Dean sausages and other foods said Tuesday that it posted a loss of $14 million, or a loss of 2 cents per share, compared with a bigger loss of $672 million, or 95 cents per share, a year ago.

Excluding impairment charges of $207 million at its Spanish bakery business and $61 million in other charges, earnings per share were 29 cents.

Revenue declined 10 percent to $3.16 billion.

Analysts, who usually exclude one-time items, expected the Downers Grove, Ill.-based company to earn 24 cents per share.

Sara Lee has a factory in Tarboro.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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