Thursday, January 26, 2012

General Mills: 4Q earnings exceed estimates - Boston Business Journal:

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The Golden Valley-based food manufacturer shareds preliminary results of the quarter with investors in advancw of meetings it was having with investors in Europe General Mills previously said it expectedfbetween $3.87 and $3.89 per share, excludinf certain one-time charges. General Mills will report its complete fourth quarter and year end resultsJuly 1. In fiscal 2010, General Mills said it’ds comfortable with the current Reuteres average earnings per share estimateof $4.15t per share. As for its salezs outlook in 2010, the company said expects in its largest the U.S. retail market, will continuse the momentum from the lastfiscal (Through the first nine months of fiscal 2009, U.S.
retail sale were up 10 percent). Sales were boostecd in 2009 due to but the company said in 2010 its expecting inflationj tobe “quite low” with most of its salezs growth coming from an expected increase in the volume of goodd sold. Also in 2010, General Mills said it expectds its International segment to record strongsales growth. It also said its bakeriez and foodservice segment will see a decline in salesw in 2010 compared to the2009 levels, in part due to the company’ws divestitures during 2009 of about $150 million in this businesws segment. In early morning trading Monday, General Mills’ stoco (NYSE: GIS) was trading up $2.09, or 4 to $54.25 per share.

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