Dive Brief:
- Diamond Foods, which is located in San Francisco, saw profit at $7.7 million in its first quarter, beating Wall Street predictions.
- Revenue increased to $246.6 million, a bump from last year's $234.7 million, though analysts forecast $253.5 million.
- Snacks sales ticked up 3.6% compared to last year, nut sales 6.5%, according to RTTNews.
Dive Insight:
"We are pleased with our first quarter results, with market share gains in the U.S. on Kettle, Pop Secret and Diamond of California contributing to a solid 5.1 percent increase in net sales," Brian J. Driscoll, Diamond Foods' president and CEO, said. Earlier this year, the Kettle chips and Pop Secret popcorn-maker announced plans to build an "innovation center" in Oregon.