reported earnings for the second quarter that met Wall Street's expectations.
The company said earnings rose to $202.7 million, or 70 cents a share, but that figure includes a gain of $4.8 million, or about 2 cents a share, from the company's portion of a class-action settlement of alleged price-fixing by several vitamin makers in 1999. Analysts polled by
First Call/Thomson Financial
expected General Mills to earn 68 cents a share for the period.
The company earned $193.7 million, or 62 cents a share, in the same period a year ago.
General Mills, which is based in Minneapolis, also said it was on track for double-digit growth in earnings per share for 2001, excluding the impact of the company's pending acquisition of
. The cereal and snack foods maker earned $2 a share in fiscal 2000.
Shares of General Mills recently rose 56 cents, or 1.4%, to $39.88 in
New York Stock Exchange