General Mills Inc. earned 60 cents a share in its fourth quarter ended May 27, up from 44 cents a year earlier. Profit for the year was $2.92 a share, up from $2.58 the previous year.
Net income for the quarter was $30.0 million on sales of $896.9 million compared with $22 million a year earlier on sales of $807 million. Net for the year was $147 million on sales of $3.745 billion compared with $135.9 million the previous year on sales of $3.243 billion.
Dow Jones & Co., publisher of the Wall Street Journal, Barron's Magazine and several other newspapers, said second-quarter earnings were up 18.6 percent over the same period last year.
Warren H. Phillips, chairman of the company, attributed the improvement principally to a 7.1 percent increase in advertising lineage at the Wall Street Journal, an ad lineage improvement of 13.3 percent at Barron's and improved earnings at Dow Jones' Ottaway Group of 20 community newspapers.
Net income for the quarter was $13.1 million (85 cents a share), compared to $11.1 million (72 cents) in the second quarter of last year. Revenue was $107.7 million, compared to $88.3 million last year.