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What: Shares of Corn Products International
So what: Revenue was actually better than expected and hit $1.58 billion in the quarter. It was the bottom line investors were concerned about, and adjusted earnings per share of $1.10 fell $0.03 short of estimates.
Now what: Guidance was also mixed versus estimates, and the company sees 2011 revenue of $6 billion and earnings per share between $4.85 and $5.15. Analysts had expected earnings of $4.61 per share and revenue of $6.41 billion. Even at the low end of the company's estimates, shares only trade at 10.7 times 2011 earnings, a great value considering the company's recent growth.
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