UPDATE: Smucker Reports Better-Than-Expected Q4 Results

J.M. Smucker Co

reported better-than-expected fourth-quarter results on Thursday. Smucker reported its quarterly profit at $94.9 million, or $0.82 per share, versus $120.6 million, or $1.01 per share, in the year-ago period. Excluding one-time items, Smucker's earnings came in at $1.00 per share. Its sales surged 11% to $1.19 billion. However, analysts were expecting earnings of $0.99 per share on revenue of $1.17 billion. Smucker projects FY12 adjusted earnings in the range of $5 to $5.15 per share, versus analysts' estimates of $5.11 per share. Smucker shares dropped 1.82% to close at $76.39 yesterday. Read more