Gerber Products blamed reports of glass in...

Gerber Products blamed reports of glass in its baby food for a 29.3% decline in its fourth-quarter net income. “Fourth-quarter sales and earnings were impacted by the unfounded adverse publicity regarding glass and a necessary increase in promotional expenses designed to restore temporary loss of market position and consumer confidence,” Gerber Chairman William L. McKinley said.

For detailed data and results of other companies, please see accompanying tables.