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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
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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.