Bear Stearns Posts 20% Rise; General Mills Up 9%

Bear Stearns Cos., the No. 6 securities firm, said net income rose 20% in its fiscal first quarter, as rising investment banking fees offset a slump in bond trading. The 77-year-old firm earned $278.2 million, or $1.89 a share, in the three months ending Feb. 25, up from $230.7 million, or $1.45 per share. The average forecast of five analysts surveyed by First Call Corp. was $1.52 a share. Investment banking revenue rose 31% to $308.2 million. . . . Strong sales of yogurt and Hamburger Helper coupled with demand for Chex cereals used to make snack mixes over the holidays helped boost General Mills’ fiscal third-quarter earnings nearly 9%. Profit rose to $153.3 million, or 50 cents a share, compared with $141.1 million, or 45 cents a share, a year ago, matching expectations. Revenue was up 8% to $1.62 billion. . . . Talbots Inc., a retailer of women’s and children’s clothing, said its fiscal fourth-quarter profit surged 88% to $15.3 million, or 48 cents a share, from $8.12 million, or 26 cents, a year ago. Sales rose 12% to $375.6 million. . . . Specialty retailer Williams-Sonoma Inc. reported fourth-quarter net income of $48.7 million, 82 cents per share, compared with $43.9 million, or 75 cents, a year ago. Sales rose 22% to $537.2 million. . . . Home furnishings retailer Restoration Hardware Inc. said fourth-quarter net income fell to $3.9 million, or 23 cents per share, compared with $6.2 million, or 35 cents, a year ago. Sales rose 32% to $116.2 million.

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