USA: General Mills Reports Record EPS of $2.00 for Fiscal 2000; 7 Percent Sales Increase Drove 11 Percent Growth in EPS
General Mills today reported record financial results for its fourth quarter and full 2000 fiscal year. Earnings for the fourth quarter ended May 28, 2000, totaled 37 cents per diluted share, up 12 percent from 33 cents a year earlier. Annual earnings totaled $2.00 per diluted share, up 11 percent from $1.80 earned before unusual items in fiscal 1999.Chairman and Chief Executive Officer Steve Sanger said, "This marks General Mills' third consecutive year of double-digit EPS growth. In 2000, our record results were driven by increased levels of consumer-focused innovation and superior topline growth." Sanger said that operating highlights for the year included the following:
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