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J.M. SMUCKER ANNOUNCES EARNINGS

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


(NYSE: SJMA/SMJB) announced today that sales for the second quarter ending Oct. 31, 1991, were $130,758,000, up 4.5 percent over the $125,177,000 for the same period last year. Net profits for the quarter were eight percent higher than in the comparable period last year, with earnings per share of $.32 compared to $.29.
 For the six months ended Oct. 31, sales and net income were up six percent and seven percent, respectively, over the prior year. Sales were $250,479,000 up from $235,920,000 last year, and net income was $18,248,000 versus $17,067,000 a year ago.
 Volume growth in the industrial and consumer business areas accounted for the majority of the sales increase both during the quarter and for the year-to-date. Industrial sales of fruit-based ingredients to other consumer products companies increased significantly. In the consumer area, traditional fruit spreads recorded the largest unit growth.
 For the second quarter and six-month periods, earnings grew faster than sales as the company experienced a favorable mix of products sold and made progress towards reducing the losses incurred in the international area. The greater efficiences resulting from increased volume through the manufacturing facilities during the second quarter also contributed.
 THE J. M. SMUCKER COMPANY
 STATEMENTS OF CONSOLIDATED INCOME
 (Unaudited)
 Three Months Ended
 October 31,
 1991 1990
 (Dollars in thousands, except per share data)
 Net Sales $130,758 $125,177
 Cost of products sold 85,325 82,199
 Total 45,433 42,978
 Selling, distribution, and
 administrative expenses 30,509 28,612
 Total 14,924 14,366
 Interest income 142 151
 Other income - net 397 127
 Total 15,463 14,644
 Interest expense 139 313
 Income Before Income Taxes 15,325 14,331
 Income taxes 6,021 5,732
 Net income $9,303 $8,599
 Net income per Common Share(A) $.32 $.29
 Dividends declared per share:
 Class A .095 .085
 Class B .095 .085
 (A) Computed on weighted average
 number of Class A and Class B
 shares outstanding, namely 29,537,098 29,539,574
 Six Months Ended
 October 31,
 1991 1990
 (Dollars in thousands, except per share data)
 Net Sales $250,479 $235,920
 Cost of products sold 163,131 153,515
 Total 87,348 82,405
 Selling, distribution, and
 administrative expenses 58,250 54,483
 Total 29,098 27,922
 Interest income 596 471
 Other income - net 553 231
 Total 30,247 28,624
 Interest expense 232 462
 Income Before Income Taxes 30,015 28,162
 Income taxes 11,767 11,095
 Net income $18,248 $17,067
 Net income per Common Share(A) $.62 $.58
 Dividends declared per share:
 Class A .19 .17
 Class B .19 .17
 (A) Computed on weighted average
 number of Class A and Class B
 shares outstanding, namely 29,536,022 29,539,424
 -0- 11/20/91
 /CONTACT: Richard K. Smucker, president, or Steven J. Ellcessor, secretary, 216-682-3000, both of the J.M. Smucker Company/
 (SJMA/SJMB) CO: The J.M. Smucker Company ST: Ohio IN: FOD SU: ERN


CG -- CL006 -- 5376 11/20/91 11:22 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Date:Nov 20, 1991
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