Kraft Inc.’s earnings declined to $118.3 million...

Kraft Inc.’s earnings declined to $118.3 million in its first quarter from $151.6 million for the year-ago quarter, which included a gain of $45.2 million due to an accounting change, the Glenview, Ill., food products company reported. The firm said the quarter benefited from particularly strong sales in its food service business, with frozen foods and dairy operations up significantly. The company also attributed its improved performance to a lower tax rate, productivity improvements and fewer shares outstanding.