J.M. Smucker (SJM) fiscal 1Q earnings top expectations

J.M. Smucker Co. (NYSE: SJM), maker of jams, jellies and Jif peanut butter, said Friday its fiscal first-quarter profit more than doubled, mostly on increased sales from last year's acquisition of the Folgers coffee business. Smucker said it earned $98.1 million, or 83 cents per share, in the three months ended July 31. That's up from $42.3 million, or 77 cents per share, a year ago. Excluding restructuring, acquisition and integration costs of 9 cents per share, Smucker says profit was 92 cents per share. Revenue jumped 58% to $1.05 billion from $663.7 million.