Fortune Brands Inc
The maker of Moen faucets, Jim Beam bourbon and Titleist golf equipment said net income was $99.8 million, or 66 cents a share, in the second quarter, compared with $136.0 million, or 88 cents a share, a year earlier.
Excluding items, the company earned 70 cents a share. Analysts on average were expecting 63 cents, according to Reuters Estimates.
Net sales fell 17 percent to $1.74 billion.
For 2009, the company cut the top end of its earnings outlook to $2.30 a share from $2.50, while keeping the low end at $2.00.
(Reporting by Dhanya Skariachan in Bangalore; Editing by Lisa Von Ahn)