Kellogg's profit rises but revenue falls short

BATTLE CREEK, Mich. (AP) ? Kellogg Co. says its profit rose in the latest quarter but its revenue fell short of Wall Street expectations as sales in its breakfast business declined.

The company, which makes Frosted Flakes, Pop Tarts and Eggo waffles, says North American sales rose, helped by its snacks and specialty foods. But the morning foods unit saw a 3.3 percent decline, even as the company tried to get Americans to eat more cereal.

For the quarter, Kellogg earned $352 million, or 96 cents per share. That compares with $324 million, or 90 cents per share, a year ago.

Not including one-time items, it earned $1 per share, more than the 98 cents per share analysts expected.

Revenue rose to $3.71 billion, short of the $3.8 billion Wall Street forecast.

Source: http://news.yahoo.com/kelloggs-profit-rises-revenue-falls-short-122501482.html

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