May 2/Westchester, Ill./Reuters -- Corn Products International Inc. results beat market estimates for the eighth straight quarter helped by additional revenue from its recently acquired National Starch business, and the corn refiner raised its earnings outlook for the year.

 The Westchester, Illinois-based company raised its full-year earnings per share forecast by $1.25 to $4.85-$5.15.

Corn Products -- a supplier to industries including food, beverage, pharma, animal feed, corrugating, paper and textile -- expects net sales to exceed $6 billion in 2011.

 Analysts on average are expecting full-year earnings of $4.10 on revenue of $6.05 billion, according to Thomson Reuters I/B/E/S.

 Corn Products said it expects 2011 capital spending of $280-$300 million.

 January-March earnings per share more than tripled to $1.97, from $0.57 a share, a year ago.

 Excluding items, it earned $1.28 a share.

Net sales rose 56% to $1.46 billion.

 First-quarter operating income more than doubled to $227 million from $72 million.

 Analysts on average had expected earnings of $0.89 a share and revenue of $1.41 billion.


From the May 2, 2011, Prepared Foods' Daily News.