Quarterly Results

12 Months Ended

Apr. 27, 2011


16.	Quarterly Results


	2011
	First		Second		Third		Fourth		Total
	(13 Weeks)		(13 Weeks)		(13 Weeks)		(13 Weeks)		(52 Weeks)
	(Unaudited)
	(Dollars in thousands, except per share amounts)

Sales	$	2,480,825	$	2,614,623	$	2,722,350	$	2,888,790	$	10,706,588
Gross profit		907,977		966,627		1,028,293		1,049,643		3,952,540
Income from continuing operations attributable to H.J. Heinz Company common shareholders, net of tax		240,427		251,435		273,785		223,863		989,510
Net income attributable to H.J. Heinz Company		240,427		251,435		273,785		223,863		989,510
Per Share Amounts:
Net income from continuing operations—diluted	$	0.75	$	0.78	$	0.84	$	0.69	$	3.06
Net income from continuing operations—basic		0.76		0.78		0.85		0.70		3.09
Cash dividends		0.45		0.45		0.45		0.45		1.80


	2010
	First		Second		Third		Fourth		Total
	(13 Weeks)		(13 Weeks)		(13 Weeks)		(13 Weeks)		(52 Weeks)
	(Unaudited)
	(Dollars in thousands, except per share amounts)

Sales	$	2,441,686	$	2,646,785	$	2,681,702	$	2,724,810	$	10,494,983
Gross profit		872,303		953,255		1,005,266		963,482		3,794,306
Income from continuing operations attributable to H.J. Heinz Company common shareholders, net of tax		214,724		243,076		264,115		192,574		914,489
Net income attributable to H.J. Heinz Company		212,564		231,435		228,527		192,366		864,892
Per Share Amounts:
Net income from continuing operations—diluted	$	0.68	$	0.76	$	0.83	$	0.60	$	2.87
Net income from continuing operations—basic		0.68		0.77		0.83		0.61		2.89
Cash dividends		0.42		0.42		0.42		0.42		1.68

Continuing operations for the first quarter of Fiscal 2010 includes charges of $15.7 million pre-tax ($11.6 million after-tax) associated with targeted workforce reductions and asset write-offs related to a factory closure. Continuing operations for the fourth quarter of Fiscal 2010 includes charges of $21.9 million pre-tax ($16.2 million after-tax) associated with targeted workforce reductions and asset write-offs related to two factory closures and the exit of a formula business in the U.K. These Fiscal 2010 charges were part of a corporation-wide initiative to improve productivity. In addition, continuing operations for the fourth quarter of Fiscal 2010 includes a gain of $15.0 million pre-tax ($11.1 million after-tax) on a property disposal in the Netherlands.

- Definition

This element can be used to disclose the entire quarterly financial data disclosure in the annual financial statements as a single block of text. The disclosure includes a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. Alternatively, the details of this disclosure can be reported using the elements in this group, or by using other taxonomy elements and applying the appropriate quarterly date and period contexts when creating an instance document. For example, the element for "Interest and Dividend Income, Operating" may be used by financial institutions from the Statement of Income, applying the appropriate quarterly date and period context when creating an instance document.

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