UPDATE: Smucker Q4 Profit Up 10%
J.M. Smucker Co (NYSE: SJM) reported a 10% rise in its fourth-quarter profit.
Smucker's quarterly profit rose to $104.1 million, or $0.93 per share, versus $94.9 million, or $0.82 per share, in the year-earlier period. Its adjusted profit came in at $1.10 per share.
Smucker's sales climbed 14% to $1.36 billion. However, analysts were expecting earnings of $1 per share on sales of $1.36 billion.
Smucker projects adjusted 2013 earnings of $5 to $5.10 per share, versus analysts' estimates of $5.24 per share.
Smucker shares closed at $76.05 yesterday.
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