Monday March 11, 5:06 PM EST

RICHMOND, Va., March 11 (Reuters) - Private-label food distributor Performance Food Group (PFGC) on Monday said it has discovered accounting errors at one of its subsidiaries that will lower its net income overall by $4 million to $5 million.

The Richmond, Virginia-based company said the errors began in early 2000, and that a determination on the exact impact and the affected time frames is expected within 30 days.

The company also said it expects to report earnings per share for the current quarter of 23 cents to 25 cents and for the year of $1.41 to $1.45.

The average estimate of eight brokers surveyed by Thomson Financial/First Call had been for earnings per share of 25 cents in the first quarter. The estimate of 10 brokers for the full year had been for earnings of $1.50 per share, with a range of $1.48 to $1.52.

Shares in Performance Food Group fell 84 cents to $34.31 in after-hours trade on Instinet after closing up 1.6 percent at $35.15 on Nasdaq.

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-- Anonymous, March 12, 2002