Filed under: Earnings reports, Good news, Competitive strategySpice manufacturer McCormick & Co. (NYSE: MKC) recently reported record results for 1Q 2007 earnings. Sales increased 7% overall. Of that, sales to consumers were up 9%, and commercial sales were up 5%. Gross profit margins were up 1.3% to 40.5%. EPS rose to $0.33, compared with EPS of $0.11 for 1Q 2006. Good news all the way around. These increases were the result of cost savings initiatives, as well as the acquisition of Simply Asia Foods in mid-2006.Consumer sales rose 10% in America, 6% in Europe, and a whopping 14% in China, with local currency gain of 9%. McCormick has spent the last months reconfiguring its product mix, particularly traditional ethnic spices. McCormick has introduced a line of gourmet spices ...