Kellogg Company has reported net sales of $2.9 billion for the fourth quarter ended January 2, 2010, a decrease of one percent, compared to $2.93 billion for the comparable period in 2009.
The company has posted a net income of $176m for the fourth quarter 2010, or $0.46 per diluted share, compared to $178m, or $0.47 per diluted share, for the comparable period in 2009. Operating profit was $352m, compared to $345m for the comparable period in 2009.
For the full year ended January 2, 2010, the company has posted a net income of $1.2 billion, or $3.16 per diluted share, compared to $1.14 billion, or $2.99 per diluted share, for the year ago period. Net sales were $12.57 billion, compared to $12.82 billion for the year ago period. Operating profit was $2 billion, compared to $1.95 billion for the year ago period.
David Mackay, CEO of the Kellogg Company, said: “We continued our momentum in 2009, delivering another year of growth despite facing one of the most challenging economic environments in decades. We maintained our focus on building and strengthening our core business, while successfully completing the first year of our three-year billion dollar plus cost reduction challenge.”
Will Kellogg improve its performance in 2010?
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