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.
[Associated
Press]
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