In all the doom and gloom of these tough economic times, at least one company has reported quarterly results that are leaps and bounds above analyst expectations and extremely solid on their own right. Foods maker General Mills has reported a first-quarter profit jump of 51 percent from last year to this year, launching its shares up.
 
General Mills’ fiscal first quarter net income was $420.6 million, or $1.25 per share, which has increased from a net income of $278.5 million, or 79 cents per share, last year. Revenue has risen 1 percent from last year to $3.52 billion, while Wall …read more

A familiar presence on the breakfast table, General Mills has expressed an optimistic outlook for its 2009 earnings, stating that lower operating costs and a lower quarterly tax rate are responsible for the change. Understandably, investor confidence in General Mills increased enough to send its shares up 3.6 percent.
Things have been looking good for General Mills for the first nine months of their fiscal year, as sales are up 10 percent and volume is up 4 percent. The company places the praise with product innovation, asserting that General Mills’ wise investments in product development allowed them to ratchet up sales.
Analysts …read more