The J.M. Smucker Company has announced a very strong second quarter for their 2008 fiscal year. The company’s second quarter for fiscal 2008 ended on October 31st of 2007. For the first six months of fiscal year 2008, J.M. Smucker has had a very strong showing compared with fiscal year 2007. This information was provided in a recent press release from J.M. Smucker Company.
For the second quarter of fiscal 2008, an increase in net sales of 23 percent was reported by J.M. Smucker Company. This included a financial contribution of $81.4 in revenue from the operations of Eagle Family Foods Holdings, Inc. which was acquired in May of 2007. During the second quarter, U.S. retail market segment net sales were up 23 percent when compared with the second quarter of fiscal 2007. The J.M Smucker Company had strong contributions by many of their brand names including Smucker’s ®, Pillsbury®, and Uncrustbables®. Along with these contributions the acquisition of Carnation® and White Lily® added to the strong performance in the second quarter of financial 2008 for J.M.Smucker Company.
During the second quarter of fiscal 2008, operating income for J.M. Smucker Company increased by 9.7 million compared with the second quarter of fiscal year 2007. This was an increase of 13 percent. The overall operating income in the 2nd quarter of financial 2008 was 11.9 percent of net sales, compared with being 12.3 percent of net sales in fiscal year 2007.
Net sales decreased from the second quarter of fiscal year 2007 by .7 percent to 30.9 percent in fiscal year 2008. Expenses increased as well, with selling, distribution and administrative expenses increasing 13 percent to 15.3 million when compared with the second quarter in 2007.
Overall for the first six months of the year, J.M. Smucker is reporting positive news. In the first six months of fiscal year 2008, the company saw an increase of 20 percent in net sales when compared with the first six months of fiscal 2007. During this same time period in the fiscal year of 2008, net sales for the U.S. retail market segment is up 21 percent when compared with the first six months of fiscal 2007.
Products that the J.M. Smucker Company manufactures and sells include fruit spreads, peanut butter, shortening and oils, ice cream toppings, and natural foods beverages. The company has been on FORTUNE Magazine’s annual listing of the 100 Best Companies to work for since 1998, and claimed the number one ranking in 2004.
Prnewswire.com. “The J. M. Smucker Company Announces Second Quarter Results”