On a non-GAAP basis, which excludes Specified Items, net earnings attributable to shareholders totaled $184.7 million, or $0.91 per diluted share, for the third quarter of 2013, compared to $144.8 million, or $0.71 per diluted share, for the same quarter a year ago. Third Quarter Segment Results The Asia/Latin America segment reported sales of $768.0 million for the third quarter of 2013, up 19 percent from $646.7 million in the same period of the prior year. Sales increased 17 percent from volume and four percent from price, reduced by two percent from foreign exchange. Price increases in Venezuela and Argentina helped mitigate high inflation in these markets and accounted for two percent of both the segment growth and total company growth. Volume growth was driven by higher market share and continued category growth in many markets. Five percent of segment growth and four percent of total company growth in the third quarter of 2013 was due to an easier comparison attributed to distributors’ inventory reductions in China during the prior-year quarter. EBIT for the Asia/Latin America segment totaled $262.0 million in the third quarter of 2013, up from $193.1 million for the same quarter a year ago.
Finally, analysts at Credit Suisse reiterated an outperform rating on shares of Mead Johnson Nutrition in a research note to investors on Thursday, October 3rd. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $81.41.