WASHINGTON (dpa-AFX) - Lamb Weston Holdings, Inc. (LW) shares are sliding
more than 16 percent on Thursday morning trade after the company reported a
decline in third quarter earnings. The company also projected
higher-than-expected impact from the transition to a new enterprise resource
planning or ERP system and a $25 million pre-tax charge for the write off of
excess raw potatoes.

The quarterly earnings were $146.1 million or $1.01 per share, down from $175.1
million or $1.21 per share last year.

Looking ahead, the company updated its annual net sales target range to $6.54 to
$6.60 billion, while its previous range of $6.8 billion to $7.0 billion. The
projection includes $1.1 billion of incremental sales attributable to the
consolidation of the financial results of LW EMEA during the first three
quarters of the fiscal year.

For the fiscal fourth quarter, the Company is targeting net sales of $1.69 to
$1.75 billion.

Currently, shares are at $83.64, down 17.21 percent from the previous close of
$101.12 on a volume of 5,917,126.



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