Food makers have been wrestling with rising prices for ingredients like corn, and General Mills, maker of Cheerios cereal, Yoplait yogurt and other food products, is no exception.

The company reported earnings $224 million, or 62 cents a share,  for the fourth quarter, up slightly from $222 million, or 61 cents a share, in the quarter a year earlier. Analysts had expected earnings of 63 cents a share, according to Thomson Financial.

Sales rose nearly 7 percent, slightly better than forecasts.

"We expect fiscal 2008 to be another year of strong operating performance, consistent with our long-term goals,"  the chairman and chief executive of General Mills, Steve Sanger, said in a statement.  .  "Our growth model calls for low single-digit growth in net sales, mid single-digit growth in segment operating profits, and high single-digit growth in earnings per share.  We expect to meet these targets in 2008 despite the estimated 5 percent input-cost inflation and increased consumer marketing investment that is included in our plans."

Earlier this week, General Mills reduced the size of its cereal boxes, effectively raising prices.