Kellogg Co.: The food products maker’s third-quarter...
Kellogg Co.: The food products maker’s third-quarter net income dropped 16% from a year ago to $123.1 million. Revenue totaled $1.2 billion, up 5%. The results were attributed to a one-time pretax charge of $14.8 million in connection with the disposition of certain operations and related assets. The Battle Creek, Mich.-based firm also said cereal volume growth in the U.S. has not met its expectations for 1989, prompting a delay in construction of a new manufacturing facility in Memphis, Tenn.
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