After the market’s close Friday, H.J. Heinz Co. (NYSE: HNZ) reported fiscal second-quarter results. The company’s profit increased nearly 9% in the quarter as net income increased to $251.4 million, or $0.78 per share, from $231.4 million, or $0.73 per share, a year prior. Analysts only predicted earnings of $0.76 per share, resulting in a 3% earnings surprise.

Heinz experienced a great boost in the quarter from success in its emerging markets, which included introducing baby formula to China and Russia. The company’s quarterly sales figures did decline slightly, however, to $2.61 million because of currency translation.

Other improvements in the quarter included increased marketing campaigns to lift ketchup sales worldwide, beans in the U.K. and children’s drinks in India.

Looking forward, Heinz plans to continue its expansion into emerging markets. Just this month it purchased the soy-sauce manufacturer Foodstar to expand in China. And the company is considering buying an Asian baby-food maker in the near future. Last year, profits from emerging markets made up 15% of Heinz’s total sales and the number is expected to increase to 20% by 2013.

Year-to-date, Heinz stock has increased +13%, which is more than double the gains of the broader market.

With its expanding product line and its growing presence in the global market, Heinz stands to increase its sales and profits significantly in coming months. Continue purchasing shares below $51.

As of this writing, Louis Navellier was recommending this stock in his Blue Chip Growth Buylist.