General Mills Reports 2011 Second Quarter EPS of $.92

General Mills GIS today reported results for the second quarter and first half of fiscal 2011. As previously announced, the company's financial performance was generally in line with very strong year-ago sales and profit results.

• Net sales grew 1 percent to $4.07 billion
• Segment operating profit totaled $853 million, 3 percent below year-ago profit that grew 12 percent.
• Diluted earnings per share grew 11 percent to reach 92 cents, including a net benefit from certain tax matters.
• Excluding the 2011 net tax benefit and the effects of mark-to-market valuation of certain commodity positions in both years, adjusted diluted earnings per share totaled 76 cents for the second quarter of fiscal 2011, compared to 77 cents in the second quarter of fiscal 2010.