UPDATE 2-JM Smucker Q4 beats Street on strong Folgers sales

giovedì 18 giugno 2009 18:58

* Q4 adj EPS $1.02 vs est $0.63

* Sales rise 81 pct to $1.07 bln

* Sees 2010 adj EPS $3.65-$3.80

* Expects 2010 sales to rise 20 pct to $4.5 bln

* Shares rise 12 pct (Recasts; adds analyst comments, conference call details, share movement)

By Renju Jose

BANGALORE, June 18 (Reuters) - J.M. Smucker Co (SJM.N: Quotazione), known for its peanut-butter and jelly, posted a quarterly profit that handily beat market expectations, helped primarily by strength in its Folgers coffee business, and raised its 2010 profit outlook, sending its shares up 12 percent.

The company said Folgers, which it acquired last November, benefited from lower short-term commodity costs and increased marketing, especially during Easter.

"The combination of promotional programs, the impact of a fully-integrated sales team and the on-air return of a classic Folgers advertisement proved to be a winning formula," co-Chief Executive Tim Smucker said on a conference call with analysts.   Continua...