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Kellogg Company Q4 net income decreases

Posted on: Fri, 05 Feb 2010 13:03:56 EST

Symbols: K

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Feb 05, 2010 (Datamonitor via COMTEX) --

Kellogg Company has reported that its net income attributable to the company was $176 million, $0.46 per diluted share, for the fourth quarter ended January 2, 2010, compared to $179 million, or $0.47 per diluted share, for the fourth quarter ended January 3, 2009.

Net sales for the fourth quarter of 2009 were $2.9 billion, compared to $2.93 billion for the fourth quarter of 2008.

Net income attributable to the company for the year ended January 2, 2010 was $1.21 billion, $3.16 per diluted share, compared to $1.15 billion, or $2.99 per diluted share, for the year ended January 3, 2009. Net sales for 2009 were $12.57 billion, compared to $12.82 billion for 2008.

David Mackay, the Kellogg Company's CEO, 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 dollars plus cost reduction challenge.

"We enter 2010 with confidence in hitting our growth expectations, driving solid top-line growth, investing in our brands as well as implementing further cost-savings initiatives through our three-year billion dollar plus cost savings challenge. With excellent financial visibility, we remain confident in our ability to deliver long-term sustainable, dependable performance."

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