USA: General Mills reports diluted EPS of 70 Cents for fiscal 2001 second quarter; reported sales increased 4 percent to $1.89 billion
General Mills (NYSE: GIS) yesterday reported record results for its fiscal 2001 second quarter. Diluted earnings per share totaled 70 cents, up 13 percent from the 62 cents per share earned in the same period last year. Diluted EPS excluding goodwill amortization (often called cash EPS) also grew 13 percent, to 72 cents. Results for the current quarter included income of $4.8 million after tax, or approximately 2 cents per diluted share, representing General Mills' portion of a class-action settlement of alleged price-fixing charges brought against several vitamin manufacturers in 1999. Excluding this income, diluted EPS grew 10 percent in the quarter.
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