The Kraft Squeeze
Kraft is yet another reporting the type of margin squeeze that I expect the economy as a whole to increasing show.
"The sales increase was a sign Kraft is having some success with new products and improved marketing. But the company still continues to battle higher costs for ingredients and energy.
The maker of foods ranging from Oreo cookies to Crystal Light drink mix said profit was $585 million, or 38 cents a share, in the fourth quarter compared with $624 million, or 38 cents a share, a year earlier when the company had roughly 100 million more shares outstanding.
Earnings were 44 cents a share excluding restructuring costs, matching the average analyst estimate compiled by Reuters Estimates.
Revenue rose to $10.40 billion from $9.37 billion. Excluding divestitures and the benefit from the weaker dollar, "organic" revenue rose 6.2 percent, the company said."
I have to get to work, but I think that is a 6% decline in the number of shares... Share buyback? I will look at this one more closely later.