(By Salman - iStockAnalyst Writer)

General Mills (NYSE: GIS)

General Mills Inc. manufactures and markets branded and packaged consumer foods worldwide. The company also supplies branded and unbranded food products to the foodservice and commercial baking industries.The company's brands include Cheerios, Fiber One, Betty Crocker, Haagen-Dazs, Yoplait, Pillsbury and Totino's pizza.  Early on Wednesday, General Mills (NYSE: GIS) reported that fourth quarter net income nearly doubled to $358.8 million, or $1.07 a share, from $185.2 million, or 53 cents per share in the prior year quarter. On an adjusted basis, the company earned 86 cents a share. Revenue climbed 5% to $3.65 billion.The company's U.S. retail division, which sells to stores, posted a sales rise of more than 11% in the quarter to finish at $2.5 billion, including the extra week. Analysts on average expected General Mills to earn 81 cents a share on sales of $3.7 billion. Gross margin jumped to 42.4% from 29.7% in the year-ago period. Cash flow from operations grew 6 percent to exceed $1.8 billion in 2009. The company also raised its 2010 eqarnings outlook. General Mills (NYSE: GIS) expects to report fiscal 2010 earnings in the range of $4.20 to $4.25 a share. Earlier this month, General Mills said it was comfortable with analysts' mean estimate of $4.15 a share.Analysts are currently looking for the cereal maker to earn $4.18 a share. For fiscal 2010, General Mills forecast net sales for its U.S. retail unit to grow in the low-single-digit percentage, driven by volume rather than price increases.The company now anticipates that 2010 input costs will be quite low. In recent times, the General Mills' earnings were hurt by higher input costs as the company locked into contracts as ingredient costs rose, leaving it unable to take advantage of falling prices this year.In the first nine months of the company's fiscal year, sales were up 10 percent, with volume increasing 4 percent.  It also expects its international segment to record strong sales growth. The international segment is particularly important as 25% of the company's overall sales were generated abroad last year, including a 30% boost to sales in China. General Mills sells its products in more than 100 countries, with offices or manufacturing facilities in more than 30 countries. In a bid to attract more buyers, has been pushing new versions of its products — like banana nut Cheerios — and boosting marketing. General Mills boosted its spending on marketing by 19 percent in the fourth quarter, and that momentum is expected to continue in fiscal 2010.