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)