lamb weston holdings inc posted a 14 rise in firstquarter revenue as it raised prices to offset a drop in the total amount of product sold amid softer restaurant traffic in the us the potatoproducts company reported revenue of 113 billion for the quarter ended aug 28 up from 9842 million a year earlier and matching wall street expectations according to factset net income rose to 2319 million for the fiscal quarter compared with 298 million last year earnings were 160 a share compared with 20 cents a share the jump in profit was driven by a 1413 million or 73 cents a share increase in unrealized marktomarket adjustments associated with natural gas and electricity hedging contracts in the companys joint venture in europe the company also booked a 151 million gain in connection with the companys july acquisition of an additional 40 stake in its joint venture in argentina stripping out onetime items adjusted earnings came to 75 cents a share lamb weston said analysts surveyed by factset had been expecting 50 cents a share the eagle idahobased company said its increased prices and more profitable mix of products sold contributed sales gains of 19 while volumes declined 5 mostly reflecting softer casual dining and fullservice restaurant traffic in the us the company raised prices across each of its business segments and generated manufacturing costsavings chief executive officer tom werner said he said supplychain challenges impacted production and softer restaurant traffic trends weighed on volume write to will feuer at willfeuerwsjcom