(Reuters) - General Mills Inc
Both finished food companies corroborated their mercantile 2012 outlooks on Tuesday notwithstanding aloft part costs and slow mercantile uncertainty.
General Mills, that creates Progresso soups and Cheerios cereal reported net income of $444.8 million, or 67 cents per share, for a second entertain finished on Nov 27, down from $613.9 million, or 92 cents per share, a year earlier.
Excluding a effects of accounting for commodity hedges, costs from a merger of Yoplait and a taxation benefit, gain were 76 cents per share.
On that basis, analysts on normal were awaiting 79 cents per share, according to Thomson Reuters I/B/E/S.
Sales rose 14 percent to $4.62 billion, helped by a further of Yoplait, increases in cost and volume, and unfamiliar sell rates.
The association endorsed a foresee for mercantile 2012, observant it still expects gain of $2.59 to $2.61 per share, incompatible items.
Meanwhile, ConAgra's gain of 47 cents per share, incompatible items, for a second entertain finished on Nov 27 surfaced a analysts' normal guess of 43 cents. The association cited strength in a blurb dishes segment.
ConAgra also endorsed a full-year outlook, observant 2012 gain should grow during a low- to mid-single-digit commission rate from a $1.75 per share it warranted final year.
The association pronounced a opinion reflected a clever second-quarter opening as good as expectations for a 10 percent boost in costs this year and continued hurdles in a business environment.
Most gain expansion in a behind half of a mercantile year will be in a fourth quarter, ConAgra said.
Shares of General Mills were down 2.8 percent during $38.50 before a marketplace opened, while ConAgra was not trading.
(Reporting By Martinne Geller in New York; Editing by Lisa Von Ahn)
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