December 20/New York/Associated Press -- Food company General Mills is reporting net income slipped 28% in the second quarter, pressured by rising costs and some charges, but revenue jumped by double digits.

The company maintained its adjusted full-year earnings guidance but cautioned that second-half gross margin as a percent of sales will be below year-ago levels.

General Mills Inc. earned $444.8 million, down from $613.9 million a year earlier.

Revenue rose 14% to $4.62 billion from $4.07 billion, helped by higher prices.

 From the December 20, 2011, Prepared Foods' Daily News.