Likewise, I expect that bears will continue to press the issue regarding the company's margins without fully appreciating the disruption that large deals like Ralcorp are known to cause. But I believe the risk/reward is heavily tilted to the positive side. Although gross margin was flat along with a slight decline in operating margin, I would take that given that Ralcorp contributed to $962 billion in revenue. It seems as if management is willing to sacrifice near-term margin for long-term growth. It's not a novel idea, but it's proven very effective. Other packaged food giants including Kraft ( KRFT) and Nestle ( NSRGY) have gone through this same process. I've said it before and it's worth repeating -- with Ralcorp now secured, investors should expect a leaner and more valuable company in the long term. Follow @saintssense This article was written by an independent contributor, separate from TheStreet's regular news coverage.