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KELLOGG EXPECTS SECOND-QUARTER EPS TO BE ABOUT 10 PERCENT BELOW 1992

 BATTLE CREEK, Mich., May 24 /PRNewswire/ -- Kellogg Company (NYSE: K) announced today that it expects its earnings per share for the quarter ending June 30, 1993, will be about 10 percent below the record $.68 per share earned in the second quarter of 1992.
 Kellogg anticipates record earnings per share for the full year 1993, but achieving double-digit growth over last year's $2.75 per share will be challenging.
 Commenting on the announcement, Kellogg Chairman of the Board and Chief Executive Officer Arnold G. Langbo said: "Our business is being impacted in the short term by slower-than-expected recoveries from recession in key markets such as Europe, Mexico, and Australia. These conditions are being complicated by unfavorable foreign currency exchange rates and by trade inventory adjustments."
 Langbo further commented: "In spite of these difficulties, we are pleased that worldwide consumption of ready-to-eat cereal is continuing to increase. We will continue our strategy of investing in our business for the long term, and we remain optimistic about our global growth prospects and committed to low double-digit growth in earnings per share over time."
 -0- 5/24/93
 /CONTACT: Richard E. Lovell of Kellogg Company, 616-961-3799/
 (K)


CO: Kellogg Company ST: Michigan IN: FOD SU: ERP

ML -- DE006 -- 1514 05/24/93 08:11 EDT
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Publication:PR Newswire
Date:May 24, 1993
Words:212
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