December 7/Entertainment Close-Up -- Del Monte Foods reported net sales for the second quarter fiscal 2011 of $940.9 million, compared to $958.9 million last year, a decrease of 1.9%. Operating income was $148.0 million, compared to $140.6 million last year, an increase of 5.3%. Income from continuing operations was $81.1 million, compared to $62.6 million last year, an increase of 29.6%. Earnings per share from continuing operations (EPS) was $0.41 compared to $0.31 EPS last year. Results for the second quarter fiscal 2010 included pretax costs of ~$17 million ($0.05 EPS) related to the Company's 7.5% notes offering and 8.625% notes tender offer.
Net sales for the second quarter fiscal 2011 declined 1.9%, as Consumer Products decreased 5.4% and Pet Products increased 2.6% Overall unit volume declines negatively impacted the topline by 1.1% (driven by Consumer Products, primarily in tomato and vegetable). Net sales was also negatively impacted by the South American sales primarily due to the devaluation of the Venezuelan currency in January 2010. Positively contributing to net sales was the impact of new products across the portfolio which contributed 1.3%.