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William E. LaMothe, Kellogg Co. chairman and chief executive officer, said, ”Our ready-to-eat cereal volume in the United States continues to fall short of expectations.” Kellogg expects operating income for the year ending Dec. 31, before an accounting change that took effect Jan. 1, to be below last year`s net income of $3.90 a share. The company wouldn`t be more specific. Last year`s net income was $480.4 million on sales of $4.35 billion. The accounting change resulted in a one-time gain of $48.1 million, or 39 cents a share, in the first quarter of 1989.
