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Kellogg Fails To Meet Analyst Forecasts For First Quarter 2013

May 2, 2013: 12:00 AM EST
Kellogg reported net income of $311 million for the first quarter of 2013, down from $351 million of the same quarter in 2012. Total revenue for the period, however, increased 12 percent to $3.86 billion, helped by the Pringles acquisition. It fell short, however, of the $3.94 forecast by analysts, according to FactSet. Shares of the company fell 1.8 percent, or $1.19, to $63.42. Sales in the United States declined 1.7 percent, while international sales rose 2.6 percent in Europe, 7.4 in Latin America, and 0.3 percent in the Asia-Pacific region.
"Kellogg profit falls on higher costs but company stands by full-year outlook", Washington Post, May 02, 2013, via Associated Press, © The Associated Press
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