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For Immediate Release
The J. M. Smucker Company Announces Fiscal 2012 Fourth Quarter and Full Year Results
|·||Fourth quarter net sales increased 14 percent|
|·||Fourth quarter EPS up 13 percent; EPS up 10 percent excluding restructuring and merger and integration charges|
|·||Strong fourth quarter leads to record full year cash from operations|
|·||Company provides net sales and earnings outlook for 2013|
ORRVILLE, Ohio, June 7, 2012 — The J. M. Smucker Company (NYSE: SJM) today announced results for the fourth quarter and year ended April 30, 2012. Results for the quarter and year ended April 30, 2012, include the operations of Rowland Coffee Roasters, Inc. (“Rowland Coffee”) and the North American foodservice coffee and hot beverage business acquired from Sara Lee Corporation (“Sara Lee foodservice business”) since the completion of each acquisition on May 16, 2011 and January 3, 2012, respectively.
|Three Months Ended April 30,||Year Ended April 30,|
|% Increase||% Increase|
|(Dollars in millions, except per share data)|
|% of net sales||13.7||%||14.0||%||14.1||%||16.3||%|
|Income per diluted share||$||0.93||$||0.82||13||%||$||4.06||$||4.05||0||%|
|·||Non-GAAP income per diluted share was $1.10 and $1.00 for the fourth quarters of 2012 and 2011, and $4.73 and $4.69 for the years ended April 30, 2012 and 2011, respectively, an increase of 10 percent and 1 percent for the quarter and full year, respectively.|
|·||GAAP and non-GAAP results include the impact, related to the Europe’s Best® frozen fruit and vegetable business, of an $11.3 million loss on the sale of business in the year ended April 30, 2012, and a noncash impairment charge of $17.2 million in the year ended April 30, 2011.|
The following information was filed by J M Smucker Co (SJM) on Thursday, June 7, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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