General Mills reaffirms its financial guidance for fiscal 2011, says it expects revenue of US$14.91B, up from US$14.80B a year ago, adjusted earnings of US$2.46-US$2.48/share

Cindy Allen

MINNEAPOLIS , June 14, 2011 (Associated Press) – General Mills Inc., the food company that makes Cheerios cereal, Haagen-Dazs ice cream and Betty Crocker mixes, reaffirmed its financial guidance for fiscal 2011.

The company said Tuesday that it still expects adjusted earnings between $2.46 to $2.48 per share and a low-single-digit percentage increase in revenue for the fiscal year ended May 29.

Analysts polled by FactSet predict earnings of $2.48 per share on revenue of $14.91 billion, up from $14.80 billion a year earlier.

Last month General Mills announced it is buying a controlling stake in yogurt company Yoplait from French investment firm PAI Partners and cooperative dairy group Sodiaal for about $1.15 billion.

General Mills, based in Minneapolis, will report its full-year financial results on June 29.

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