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J. M. SMUCKER ANNOUNCES EARNINGS

 J. M. SMUCKER ANNOUNCES EARNINGS
 ORRVILLE, Ohio, Aug. 20 /PRNewswire/ -- The J. M. Smucker Company


(NYSE: SJMA/SJMB), Orrville, Ohio, announced today that sales for the first quarter ending July 31, 1992, were $124,781,000, up 4 percent over the $119,721,000 for the same period last year and that net income for the quarter was up nearly 8 percent over last year. Earnings per share were $.33 for the quarter, compared to $.30 in the prior fiscal year.
 The company reported that sales increased in all business areas, with the majority of the increase occurring in the Industrial and Consumer areas. In the Industrial area, the increase was attributable to volume growth in sales of fruit-based ingredients to other consumer products companies. In the Consumer area, sales were up in both the Grocery and Warehouse Club markets.
 Earnings for the quarter grew at a faster rate than sales due to lower costs for certain fruit raw materials and ongoing cost control efforts. Reduced operating losses in the company's International area also contributed to the earnings increase.
 THE J. M. SMUCKER COMPANY
 STATEMENTS OF CONSOLIDATED INCOME
 (Unaudited)
 Three Months Ended
 July 31,
 1992 1991
 (Dollars in thousands, except per share data)
 Net sales $124,781 $119,721
 Cost of products sold 81,354 77,806
 Gross profit 43,427 41,915
 Selling, distribution, and
 administrative expenses 27,980 27,741
 Operating income 15,447 14,174
 Other income - net 403 516
 Income before income taxes 15,850 14,690
 Income taxes 6,234 5,746
 Net income $ 9,616 $ 8,944
 Net income per Common Share (A) $ .33 $ .30
 (A) Computed on weighted average
 number of Class A and Class B
 shares outstanding, namely 29,568,902 29,534,946
 THE J.M. SMUCKER COMPANY
 CONDENSED CONSOLIDATED BALANCE SHEETS
 (Unaudited)
 July 31,
 1992 1991
 (Dollars in thousands)
 ASSETS
 Current Assets:
 Cash and cash equivalents $ 19,848 $ 9,668
 Trade receivables 42,037 41,337
 Inventories 101,105 99,680
 Other current assets 4,098 4,792
 Total Current Assets 167,088 155,477
 Other Assets 29,700 29,099
 Property, Plant, and Equipment, Net 90,221 85,380
 Total $287,009 $269,956
 LIABILITIES AND SHAREHOLDERS' EQUITY
 Current Liabilities:
 Accounts payable $ 29,777 $ 34,018
 Other current liabilities 26,068 27,473
 Total Current Liabilities 55,845 61,491
 Long-Term Debt 3,827 4,267
 Other Liabilities 8,065 7,864
 Shareholders' Equity, Net 219,272 196,334
 Total $287,009 $269,956
 -0- 8/20/92
 /CONTACT: Steven J. Ellcessor, secretary, or Richard K. Smucker, president, 216-682-3000, both of the J.M. Smucker Company/
 (SJMA SJMB) CO: The J.M. Smucker Company ST: Ohio IN: FOD SU: ERN


BM -- CL005 -- 1746 08/20/92 13:25 EDT
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Date:Aug 20, 1992
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