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Pringles pop boosts Kellogg's sales in 4Q

Published on NewsOK Modified: February 5, 2013 at 11:19 am •  Published: February 5, 2013

International sales rose 31 percent in the fourth quarter, boosted by results in Asia and Latin America. Internal sales, which exclude the impact of acquisitions and foreign currency translations, rose 5 percent. The European business also showed improvement, with internal sales up 2.7 percent in the quarter.

For the year, net income rose 11 percent to $961 million, or $2.67 per share. That compares with $866 million, or $2.38, in the prior year. Revenue rose nearly 8 percent to $14.2 billion from $13.2 billion in 2011.

The company, based in Battle Creek, Mich., stood by its outlook for 2013, with sales expected to increase by about 7 percent. Full-year earnings per share are expected to grow between 5 percent and 7 percent.