General Mills Reports Drop In Q1 Profit

(RTTNews) - General Mills (GIS) announced a profit for first quarter that decreased from the same period last year

The company's bottom line came in at $579.9 million, or $1.03 per share. This compares with $673.5 million, or $1.14 per share, in last year's first quarter.

Excluding items, General Mills reported adjusted earnings of $605.9 million or $1.07 per share for the period.

The company's revenue for the quarter fell 1.1% to $4.848 billion from $4.904 billion last year.

General Mills earnings at a glance (GAAP) :

-Earnings (Q1): $579.9 Mln. vs. $673.5 Mln. last year. -EPS (Q1): $1.03 vs. $1.14 last year. -Revenue (Q1): $4.848 Bln vs. $4.904 Bln last year.