Sara Lee, which said last month it planned to split into two companies after takeover bids proved unsatisfactory, reported net income of $880 million, or $1.37 per share, for the second quarter ended on January 1, compared with $371 million, or 53 cents per share, a year earlier.
Excluding a gain on the sale of discontinued operations, a tax benefit and other items, earnings from continuing operations were 24 cents per share, a penny short of the analysts' average estimate, according to Thomson Reuters I/B/E/S.
Net sales slipped 0.4 percent to $2.35 billion, as lower volumes and a weaker euro offset price increases and a larger proportion of higher-priced goods.
The company affirmed its full-year 2011 forecast for earnings of 85 cents to 89 cents per share.
Sara Lee shares fell to $16.65 in premarket trading from their close on Monday at $16.92 on the New York Stock Exchange.
(Reporting by Martinne Geller; Editing by Lisa Von Ahn)