Kellogg, Sara Lee boost full-year forecasts

Cereal maker Kellogg Co. said Thursday that its fourth-quartet net income declined slightly, missing Wall Street forecasts, and also raised its full-year forecast, although to a level slightly below analysts' estimates.

Kellogg said it earned $176 million, or 46 cents a share. It earned $179 million, or 47 cents a share, in the year-ago period. Sales fell 1% to $2.9 billion.

Analysts had forecast Kellogg to earn 50 cents a share on sales of $2.9 billion, according to FactSet Research.

Shares of Kellogg slipped 4% to $53.07. Before Thursday's report, the stock had gained 23% in the past 12 months, double the gain for the S&P Food Products Index.

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- Posted: 2010-02-04 11:00:39

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