General Mills Falling After Earnings Report (GIS)

General Mills (NYSE: GIS) released its Q4 earnings numbers after the closing bell on Tuesday. The company reported net income of $211.9 million or $0.31 per share compared to $358.8 million or $0.53 per share in the year ago period. On an adjusted basis, which is comparable to analysts' estimates, EPS was $0.41 versus $0.43 in last year's fourth quarter. This was in line with Wall Street consensus estimates of $0.41 per share. Net sales were $3.57 billion, which was a 2% decline versus last year's corresponding quarter when GIS reported sales of $3.65 billion. Analysts had anticipated the company would report revenue of $3.55 billion. General Mills (GIS) is expecting EPS of $2.46 to $2.48 in fiscal 2011. This compares to Wall Street consensus earnings estimates of $2.50 per share. In the after hours trading session, GIS shares have fallen 4.61% to $35.20.