» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X
Skip Navigation LinksHome > Article
VOL. 35 | NO. 50 | Friday, December 16, 2011




General Mills 2Q profit falls on higher costs

Print | Front Page | Email this story

NEW YORK (AP) — General Mills is reporting that net income slipped 28 percent in the second quarter, pressured by rising costs and some charges, but revenue jumped by double digits.

The food company maintained its adjusted full-year earnings guidance Tuesday, but cautioned that second-half gross margin as a percent of sales will be below year-ago levels.

General Mills Inc., based in Minneapolis, earned $444.8 million, or 67 cents per share. That's down from $613.9 million, or 92 cents per share, a year earlier.

Excluding charges tied to its Yoplait deal and other items, earnings were 76 cents per share.

Revenue rose 14 percent to $4.62 billion from $4.07 billion, helped by higher prices.

Analysts forecast earnings of 79 cents per share on revenue of $4.6 billion.

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email  
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0