Sysco 3Q profit rises on higher broadline segment sales

HOUSTON—Sysco Corp. said Monday its fiscal third-quarter profit rose 9 percent, helped by higher broadline segment sales.

The food distributor reported net income increased to $240.9 million, or 40 cents per share, compared with $221 million, or 35 cents per share, a year earlier.

Analysts expected earnings of 39 cents per share, according to a Thomson Financial survey.

Revenue for the period ended March 29 climbed 7 percent to $9.15 billion from $8.57 billion. Analysts expected $9.21 billion in revenue.

Broadline segment sales grew to $7.23 billion from $6.72 billion, while Sygma segment revenue edged up to $1.14 billion from $1.08 billion.