Branded food products maker J. M. Smucker Co. (SJM) posted fourth-quarter net loss of $90.3 million or $0.82 per share, compared to net income of $118.5 million or $1.16 per share, in the prior-year quarter.
Excluding certain items affecting comparability, loss for the quarter was $45.3 million or $0.41 per share, compared to income of $125.2 million or $1.22 per share in the year-ago period.
On average, 15 analysts polled by Thomson Reuters expect earnings of $0.99 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the latest fourth quarter increased 17 percent to $1.45 billion from $1.23 billion in the year-ago period. Analysts estimated revenues of $1.36 billion for the quarter.
For fiscal 2016, the company anticipates earnings, excluding certain items affecting comparability to range from $5.65 to $5.80 per share. The company expects net sales to approximate $8.0 billion, an increase of 40 percent compared to 2015, reflecting a full year contribution from Big Heart of approximately $2.4 billion. Net sales are expected to increase approximately 3 percent on the remainder of the Company's businesses.
Analysts expect earnings of $5.84 per share for the year on revenues of $7.97 billion.
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