(Public, NASDAQ:NAFC) Shares Soar On Better Earnings and Buyback Plan

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Nash-Finch Company (Public, NASDAQ:NAFC) soared 6% to $31.47 after the Minneapolis food distributor, reported that third-quarter net income nearly tripled on 15% higher sales, and it said it would buy back as much as $25 million in stock. Earnings reached $21.9 million, or $1.64 a share, from $7.7 million, or 58 cents, in the year-earlier quarter. The per-share results reflect special items netting to a gain of 47 cents in the current period and a loss of 45 cents a year earlier. Sales rose to $1.63 billion from $1.42 billion. Adjusted for a January acquisition, sales fell 0.9%. Nash Finch said in Thursday statements that the buyback authorization would be in effect through 2010.

Nash-Finch Company is a food distributor catering to the retail grocery industry and the military commissary and exchange systems, principally in the United States. It organizes its operations into three principal segments: food distribution, military food distribution and retail.

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