Con Agra Foods has recalled Peter Pan and Great Value peanut butter last week that was made at its plant in Slyvester, GA. The peanut butter made at that plant has been linked to salmonella poisning in almost 300 people. They have now recalled the peanut butter saying it will cost between $50 and $60 million dollars.
The company said the recall cost of 6 cents to 8 cents a share will drag its fiscal 2007 results to the lower end of its recent forecast.
ConAgra had said in December that it expected earnings to come in between $1.28 and $1.33 a share. Analysts surveyed by Thomson Financial had been projecting 2007 earnings of $1.34 a share.
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