May 28 (Bloomberg) -- H.J. Heinz Co., the world’s biggest ketchup maker, and said fourth-quarter profit fell as the stronger U.S. dollar shaved overseas sales.

The maker of Ore-Ida french fries and Lea & Perrins sauces also said per-share earnings will decline to $2.60 to $2.70 for the current fiscal year. Analysts estimated $2.69. Sales, excluding the effect of currency translation, will advance 4 percent to 6 percent, the company said.

Net income dropped to $175.1 million, or 55 cents a share, in the three months through April 29, from $194.1 million, or 61 cents, a year earlier, Pittsburgh-based Heinz said today in a statement distributed by Business Wire. Sales fell 5.6 percent to $2.54 billion.

The conversion of overseas revenue into more expensive dollars has hurt profit at Heinz and will reduce earnings in the current year, the ketchup maker said. The company gets about half of its revenue from outside North America.

“The company is under significant pressure from several non-operating factors, including foreign exchange,” Alexia Howard, an analyst with Sanford C. Bernstein & Co. in New York, said in a May 14 note. “On the operating side, it looks as though commodity pressures are likely to continue.”

Heinz shares decreased 1 cent to $36.26 yesterday in New York Stock Exchange composite trading. The shares fell 3.6 percent this year before today.

The company is raising its quarterly dividend to 42 cents from 41.5 cents. It will be payable to shareholders of record as of June 24 and payable July 10.

To contact the reporter on this story: Duane D. Stanford in Atlanta at dstanford2@bloomberg.net.

Last Updated: May 28, 2009 08:01 EDT