Operating profits across segments were up 5%, and diluted earnings per share were $0.74, compared to $0.62 in Q2 2009.
Second quarter revenue included $9 million of the $900 million received as a one-time cash payment from new distribution licensing agreements with PepsiCo. The payment, recorded as deferred revenue, will be reported in increments as net sales over 25 years.
Year-to-date, net sales were up 1%, and sales volume was down 1%. Operating profits across all segments were up 3%. Diluted earnings per share were $1.09, versus $1.14 for the first two quarters of 2009.
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