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Kellogg first-quarter profit hurt by ingredient costs

Thu May 2, 2013 8:15am EDT

May 2 (Reuters) - Kellogg Co reported lower quarterly earnings on Thursday, hurt by higher ingredient costs.

The maker of Corn Flakes cereal, Keebler cookies and Eggo waffles said net income was $311 million, or 85 cents per share in the first quarter, down from $351 million, or 98 cents per share, a year earlier.

Net sales rose to $3.86 billion from $3.44 billion a year earlier.

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