Heard on Kellogg's (K +2%) earnings call: 1) The drop in profits in Asia is tied to  significant...


Heard on Kellogg's (K +2%) earnings call: 1) The drop in profits in Asia is tied to  significant up-front costs and brand building outlays as the company invests in the business in the region. 2) Cash flow for 2013 is pegged at $1.1B to $1.2B. 3) Inside the key frozen business - frozen veggie and Natural/Organic are strong while execs dance around the prospect for frozen breakfast. 4) The company expects a good balance between price and mix in 2013, but acknowledges cost inflation will be higher than it would like to see at 5%. (webcast)

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