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"The Quaker Oats Company (NYSE: OAT - news) today reported diluted earnings per share of $1.11 for its second quarter ended June 30, 2000, excluding unusual items. This compares to $0.95 per share in the second quarter of 1999, an increase of 17 percent.Including unusual items in both years, second-quarter diluted earnings were $1.10 in 2000, versus $1.22 per share in 1999, a decrease of 10 percent. The decrease relates primarily to a one-time favorable tax adjustment of $0.27 per share in the year-ago quarter (see section entitled &amp;quot;Unusual Items&amp;quot; for details).&amp;quot;Our results again exceeded expectations, with Gatorade delivering another quarter of excellent sales and volume growth,&amp;quot; said Robert S. Morrison, chairman, president and chief executive officer. &amp;quot;Its volume was up strongly in all channels of distribution, reflecting strong consumer acceptance of Gatorade&amp;#39;s new Fierce flavors, the new eight-pack and the EDGE sport bottle.&amp;quot;In addition, results were bolstered by strong operating income growth in U.S. and Canadian Foods, and signs of a turnaround in Latin America, where we achieved growth in both Foods and Beverages -- top and bottom line.&amp;quot;"^^<http://www.w3.org/2001/XMLSchema#string>
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