Kellogg Co

Kellogg Co. said second-quarter earnings fell 17% to $143.2 million, or 35 cents a diluted share, from $171.6 million, or 41 cents, before a charge, a year ago, and warned of further declines as it faces fierce competition from other cereal makers. The results missed analysts' estimates by 2 cents. Revenue fell slightly to $1.71 billion from $1.72 billion. Kellogg, the world's largest cereal maker, said full-year earnings will fall as much as 15% to about $1.

Kellogg Co. said five top executives, including its chief financial officer, are leaving in a management reorganization led by new Chief Executive Carlos Gutierrez, who takes over for Arnold Langbo on April 23. Battle Creek, Mich.-based Kellogg, which makes cereals including Rice Krispies and Frosted Flakes, has been struggling to combat declining sales and profit.

Quaker Oats Co., once known for puffed cereal "shot from guns," trained its legal firepower on the Texas attorney general Monday in defense of its ads praising the health benefits of oat bran. "The Texas state attorney general does not want us to communicate health messages to the citizens of his state," said Luther C. McKinney, chief legal officer of Chicago-based Quaker. Atty. Gen.

Sugary, salty, refined-flour cereals aren't exactly rare, of course. But some critics charge that Kellogg Co. is adding insult to injury by disparaging real apples in a new advertising campaign for its popular Apple Jacks breakfast cereal. The Apple Jacks ads on television and the company's website feature a "grouchy," "sour," "meddling" and "scheming" Bad Apple who races a "laid-back," "happy" and "confident" cinnamon stick to be first to get into a bowl of Apple Jacks.

Kellogg Co. said Tuesday that it will restructure, cutting up to 2% of its work force as the maker of Frosted Flakes and Pop-Tarts prepares to complete its acquisition of Keebler Foods Inc. In a meeting with investors and Wall Street analysts, company executives said the overhaul would result in a fourth-quarter charge of up to $70 million and weaken earnings in the short term, but would create longer-term growth.

A quick jaunt to Fun K Town can mean hours of online gaming fun for children, from skydiving onto a tropical island to viewing a series of "swashbuckling" video clips, a la "Pirates of the Caribbean." The only catch: The island is CinnaIsland and the adventuresome pirate is Toucan Sam, both connected to the sugary breakfast cereals Apple Jacks and Froot Loops. Produced by Kellogg Co., Fun K Town is one of a number of websites maintained by food companies that target children younger than 12.

Kellogg Co. said third-quarter profit rose 11% as new cereals and snacks spurred sales, but its forecast that full-year and 2006 earnings would be below analysts' estimates sent its shares to their biggest drop in three years. Net income at Kellogg, the largest U.S. cereal maker, climbed to $274.3 million, or 66 cents a share, from $247 million, or 59 cents, a year earlier. The profit beat analysts' estimates. Sales gained 7% to $2.62 billion, the Battle Creek, Mich.-based company said.

Kellogg Co., the largest U.S. cereal maker, said second-quarter earnings climbed 16% as new products spurred sales. Net income rose to $237.4 million, or 57 cents a share, from $203.9 million, or 50 cents, a year earlier, the Battle Creek, Mich., company said. Sales rose 6.2% to $2.39 billion. Kellogg raised U.S. cereal prices an average of 4.5% two weeks ago to cover rising commodity costs and to pay for advertising new items, Chief Executive Carlos Gutierrez said.

Kellogg Co. said second-quarter profit rose 52% as costs related to last year's purchase of Keebler Foods Co. declined and sales increased. Net income rose to $173.8 million, or 42 cents a share, from $114.6 million, or 28 cents, a year earlier. Revenue gained 6.8% to $2.13 billion, the second-largest U.S. cereal maker said. Chief Executive Carlos Gutierrez is introducing products, entering marketing agreements and increasing sales of more-profitable items such Nutri-Grain cereal bars.

Kellogg Co.'s profit climbed 35.4% in the third quarter, narrowly beating Wall Street expectations despite a 2.3% decline in sales. The cereal maker said it earned $203.5 million, or 49 cents per share, beating the consensus forecast of 48 cents a share. Sales fell 2% to $2.14 billion. Shares of Kellogg fell $2.15 to $33 on the NYSE.

Kellogg cereal: An article in Business on Wednesday about Kellogg Co.'s settlement of federal claims that it falsely advertised the benefits of eating Frosted Mini-Wheats said the company is based in Grand Rapids, Mich. It is based in Battle Creek, Mich.

Kellogg Co., the largest U.S. cereal maker, said it would stop marketing foods high in sugar, fat and calories to children under 12, avoiding a potential lawsuit from two consumer groups. Kellogg said in a statement Wednesday that it would make Honey Smacks cereal, Yogos fruit snacks and other products healthier by the end of 2008 or stop promoting them to kids through the use of cartoon characters such as Dig'em the frog.

Cereal maker Kellogg Co. said its president and chief operating officer, David Mackay, would become chief executive Dec. 31, replacing Jim Jenness, who will continue as chairman. Jenness, 60, has led Kellogg since Carlos Gutierrez was tapped as Commerce secretary in 2004. Mackay was widely seen as Gutierrez's right-hand man. Mackay, 51, joined Battle Creek, Mich.-based Kellogg in 1985 and became president and COO in 2003.

A quick jaunt to Fun K Town can mean hours of online gaming fun for children, from skydiving onto a tropical island to viewing a series of "swashbuckling" video clips, a la "Pirates of the Caribbean." The only catch: The island is CinnaIsland and the adventuresome pirate is Toucan Sam, both connected to the sugary breakfast cereals Apple Jacks and Froot Loops. Produced by Kellogg Co., Fun K Town is one of a number of websites maintained by food companies that target children younger than 12.

Kellogg Co. said third-quarter profit rose 11% as new cereals and snacks spurred sales, but its forecast that full-year and 2006 earnings would be below analysts' estimates sent its shares to their biggest drop in three years. Net income at Kellogg, the largest U.S. cereal maker, climbed to $274.3 million, or 66 cents a share, from $247 million, or 59 cents, a year earlier. The profit beat analysts' estimates. Sales gained 7% to $2.62 billion, the Battle Creek, Mich.-based company said.

Sugary, salty, refined-flour cereals aren't exactly rare, of course. But some critics charge that Kellogg Co. is adding insult to injury by disparaging real apples in a new advertising campaign for its popular Apple Jacks breakfast cereal. The Apple Jacks ads on television and the company's website feature a "grouchy," "sour," "meddling" and "scheming" Bad Apple who races a "laid-back," "happy" and "confident" cinnamon stick to be first to get into a bowl of Apple Jacks.

Kellogg Co. is giving outgoing Chief Executive Carlos Gutierrez, who is leaving to head the Commerce Department, a parting gift that will be worth millions of dollars over his lifetime. Starting in 2009, Gutierrez, 51, will pocket annual pension payments from Kellogg of about $1.3 million, Kellogg spokesman Simon Burton said.

Kellogg Co., the largest U.S. cereal maker, said second-quarter earnings climbed 16% as new products spurred sales. Net income rose to $237.4 million, or 57 cents a share, from $203.9 million, or 50 cents, a year earlier, the Battle Creek, Mich., company said. Sales rose 6.2% to $2.39 billion. Kellogg raised U.S. cereal prices an average of 4.5% two weeks ago to cover rising commodity costs and to pay for advertising new items, Chief Executive Carlos Gutierrez said.

Kellogg Co.'s profit climbed 35.4% in the third quarter, narrowly beating Wall Street expectations despite a 2.3% decline in sales. The cereal maker said it earned $203.5 million, or 49 cents per share, beating the consensus forecast of 48 cents a share. Sales fell 2% to $2.14 billion. Shares of Kellogg fell $2.15 to $33 on the NYSE.

Kellogg Co. said second-quarter profit rose 52% as costs related to last year's purchase of Keebler Foods Co. declined and sales increased. Net income rose to $173.8 million, or 42 cents a share, from $114.6 million, or 28 cents, a year earlier. Revenue gained 6.8% to $2.13 billion, the second-largest U.S. cereal maker said. Chief Executive Carlos Gutierrez is introducing products, entering marketing agreements and increasing sales of more-profitable items such Nutri-Grain cereal bars.