USA: Kellogg earnings meet analysts' estimate
Consistent with both its forecast and the security analysts' consensus estimate, Kellogg Company (NYSE: K) today reported first quarter 2001 earnings per share of $.30, down from last year's $.40. Net earnings were $122.8 million, down from $161.7 million last year. The results exclude restructuring charges and an extraordinary loss from the early extinguishment of debt. Net sales were $1.71 billion, down from last year's $1.75 billion. However, net sales grew 1 percent without the impact of weakening foreign currencies. Sales were up 2 percent in the United States.
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