date:May 26, 2012
The low income could be attributed to higher ingredient costs, high investment in advertising, low cereal sales and expenses due to its spinoff from Ralcorp.
Post's revenue declined to $250.5m from $259m.
The company noted that its cereal sales declined as consumers were discouraged by the higher prices and turned to quick-service restaurants. Several restaurants such as Starbucks, Subway, Burger King and other chains have expanded their breakfast menu to lure consumers.
The company's cereal