WASHINGTON (dpa-AFX) - Consumer goods company J. M. Smucker Co. (SJM) reported Tuesday a net loss for the fourth quarter of $729.0 million or $6.85 per share, compared to net income of $245.1 million or $2.30 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter was $2.31 per share, compared to $2.66 per share in the year-ago quarter.
On average, 15 analysts polled expected the company to report earnings of $2.25 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter declined 3 percent to $2.14 billion from $2.21 billion in the same quarter last year. Net sales, excluding divestitures and foreign currency exchange, decreased 1 percent. Analysts expected net sales of $2.19 billion for the quarter.
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