Newspaper article St Louis Post-Dispatch (MO)

Quaker Oats Bounces Back

Newspaper article St Louis Post-Dispatch (MO)

Quaker Oats Bounces Back

Article excerpt

The Quaker Oats Co. on Thursday posted a profit for the fourth quarter in contrast to a loss a year ago, as strong sales of its Gatorade sports drink and hot cereals were offset by continued poor sales of Snapple tea and fruit juices.

For the three months ended Dec. 31, the maker of Cap'N Crunch cereal and Rice-A-Roni posted net income of $18.1 million, or 12 cents a share, compared to a net loss of $47.8 million, or 36 cents a share, a year ago.

Quaker Chairman William D. Smithburg indicated the company remains committed to Snapple, which it bought for $1.7 billion in late 1994 and has taken a loss on ever since. In other reports: AlliedSignal Inc. said growth in aerospace and auto-parts sales helped it post a 16 percent increase in fourth-quarter earnings to $270 million, or 96 cents a share, compared with $233 million, or 83 cents a share, a year earlier. Allstate Corp. said its fourth-quarter earnings rose 35 percent to $595 million, or $1. …

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