Kraft Foods Inc. (KFT: chart), engages in the manufacture and sale of packaged foods, said that its fourth-quarter net earnings fell to $624 million, or 38 cents per share compared with $773 million, or 46 cents per share, during the year-ago period. Excluding asset impairment, exit and implementation costs, among other items, per-share earnings were 51 cents compared with 56 cents. Revenue was $9.27 billion versus $9.66 billion in the same period a year earlier.

Altria Group Inc. (MO: chart), the food and tobacco conglomerate, said that its fourth-quarter net earnings increased to $2.96 billion, or $1.40 per share, compared with $2.29 billion, or $1.09 per share, in the year-ago period. Excluding certain items, Altria posted a per-share profit of $1.27 compared with $1.17 last year. Revenue rose 3.7% to $25.4 billion from $24.59 billion in the same period a year ago.

Media General (MEG: chart), publisher and TV stations owner, said fourth-quarter net income rose 27% to $31.6 million, or $1.33 per share, from $25 million, or $1.05 per share in the year-ago period. Income from continuing operations rose to $1.35 a share from $1 a share. Revenue climbed 26% to $294.7 million. Excluding the results of four new NBC affiliate stations purchased in June, sales rose 10.7%.

L-3 Communications (LLL: chart), defense contractor, reported fourth-quarter net income rose 15% on 17% higher revenue. Earnings reached $173.6 million, or $1.37 per share, from $151.4 million, or $1.24 per share, in the year-earlier period. Revenue rose to $3.39 billion from $2.9 billion in the same period a year earlier.

Dominion Resources (D: chart), energy producer, said that its fourth-quarter net income dropped to $31 million, or 9 cents per share compared with $257 million, or 73 cents per share, on a $244 million loss from discontinued operations of three merchange generation plants it sold in December. Operating earnings fell to $275 million, or 78 cents per share, against $357 million, or $1.02 per share, after milder-than-normal weather in the electric and gas utility service areas, lower average realized prices for natural gas and oil sales and the absence of a benefit from hedges.