Kellogg posts narrower loss, stands by '13 outlook
February 6, 2013 12:42 AM EST
The world's largest cereal company posted a net loss of $32 million, or 9 cents per share, compared with a loss of $195 million, or 54 cents per share, a year earlier.
Excluding a mark-to-market accounting change, earnings were 65 cents per share, down from 71 cents per share a year earlier.
The company, whose brands include Corn Flakes, Eggo waffles and Keebler cookies, stood by its 2013 outlook, which calls for earnings-per-share growth of 5 percent to 7 percent and sales growth of about 7 percent.
Net sales rose to $3.56 billion from $3.02 billion a year earlier.
Shares were up 0.7 percent at $58.50 in premarket trading.
(Reporting by Martinne Geller in New York; Editing by Jeffrey Benkoe)
Most Popular Slideshows
- 2014 MLB World Series Game 1: San Francisco Giants 7, Kansas City Royals 1 [PHOTOS]
- 2014 MLB World Series - Game 2: Kansas City Royals 7, San Francisco Giants 2 [PHOTOS]
- NFL Thursday Recap - Denver Broncos 35, San Diego Chargers 21: Peyton Manning Has 3 TDs In Easy Win [PHOTOS]
- 2014 MLB World Series Game 3: Kansas City Royals 3, San Francisco Giants 2 [PHOTOS]
Join the Conversation
- Xiaomi Redmi 1S vs. Sharp Aquos Crystal – Specifications, Features And Price Showdown
- Verizon Motorola Droid Turbo Leaked Live Images Surfaces, Scheduled To Get Unveiled On Oct 28
- Update HTC One M7 with LG G2 with Android 4.4.2 as Sprint OTA: Fixes and Installation
- U.S. Targets Buyers of ISIS Oil, Threatens Sanctions
- ISIS Syria Airstrike Bombing Has Killed 550 People, Civilians Included
- Russia Blocking OSCE Monitoring Of Its Border With Ukraine
- Russia Slams US 'Double Standards' In The Fight Against ISIS