J. M. Smucker Co
BRIEF: For the nine months ended 31 January 2013, The J.M. Smucker Company revenues increased 9% to $4.56B. Net income applicable to common stockholders increased 16% to $410.3M. Revenues reflect U.S. Retail Consumer Foods segment increase of 4% to $581.3M. Net income benefited from Loss (gain) on divestitures decrease from $11.3M (expense) to $0K, Other operating incomenet increase from $758K to $3.7M (income). Dividend per share increased from $1.44 to $1.56.
Common Stock no Par, 7/11, 150M auth., 128,604,165 issd. 12,628,091 Treas. @ cost. insiders control approx. 4.25%. PO 7/65, 165K shs. @ $22.75 by McDonald&Co. 6/02, Co. merger w/Jif&Crisco brands (spun-off from P&G Co.) Basis: each PG recv. 1 new Smucker share for 50 PG shs. & each new Smucker recv. 0.94 of old.
The J. M. Smucker Company operates principally in the manufacturing and marketing of branded food products on a worldwide basis. Majority of the Company’s sales are in the United States. The Company's operations outside the United States are principally in Canada. The Company operates in three segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, and International, Foodservice and Natural Foods. On May 16, 2011, the Company acquired the coffee brands and business operations of Rowland Coffee Roasters, Inc. (Rowland Coffee). On January 3, 2012, it acquired a majority of the North American foodservice coffee and hot beverage business of Sara Lee Corporation (Sara Lee foodservice business). On March 26, 2012, it acquired a 25% equity interest in Guilin Seamild Biologic Technology Development Co., Ltd. (Seamild). Seamild is a manufacturer and marketer of oats products headquartered in Guilin in the Guangxi province of China.