met its own expectations and exceeded analysts' estimates by two cents when the cereal company reported fourth-quarter earnings of 35 cents a share.
The consensus estimate from 13 analysts polled by
First Call/Thomson Financial
was 33 cents. The income figure in the latest quarter excludes charges. In the year-ago period, Kellogg earned 34 cents a share. Income rose to $142.7 million from $136.7 million last year.
The Battle Creek, Mich., company's fourth-quarter revenue was off 1.9% to $1.56 billion from $1.59 billion, but would have been flat excluding the effect of foreign exchange, acquisitions and sold or discontinued businesses.
Kellogg also said it expects to
close the acquisition of snack foods maker
Kellogg's stock was a little soggy on the
New York Stock Exchange
, losing 44 cents, or 1.7%, at $25.69.