Kellogg Co. said Thursday its profit rose 7 percent during the fourth quarter despite costs related to the recent peanut-related recall. Those expenses are expected to continue hurting the cereal and snack giant's net earnings in 2009. Kellogg narrowed its sales guidance for the year from mid-single-digit growth to between 3 percent and 4 percent. The Battle Creek, Michigan, company said it earned $179 million, or 47 cents per share, during the three months that ended Jan. 3, compared with $176 million, or 44 cents per share, in the last quarter of 2007. Revenue increased 5 percent to $2.93 billion. Analysts surveyed by Thomson Reuters, on average, forecast earnings of 50 cents per share on revenue of $3.05 billion for the quarter. Its brands include Pop-Tarts toaster pastries, Eggo frozen waffles, Cheez-It crackers and Special K cereal.
