HSY » Topics » HERSHEY FOODS ANNOUNCES RECORD FOURTH QUARTER AND FULL-YEAR RESULTS
This excerpt taken from the HSY 8-K filed Jan 26, 2005.
ANNOUNCES RECORD FOURTH QUARTER AND FULL-YEAR RESULTS
HERSHEY, Pa., January 26, 2005
Hershey Foods Corporation (NYSE:HSY) today announced record sales and earnings
from operations for the fourth quarter ended December 31, 2004. Consolidated net sales
were $1,267,963,000 compared with $1,179,255,000 for the fourth quarter of 2003. Net
income for the fourth quarter of 2004 was $170,286,000, or $.68 per share-diluted,
compared with $144,938,000, or $.55 per share diluted, for the comparable period of 2003.
For the fourth quarter of 2003, these
results, prepared in accordance with generally accepted accounting principals (GAAP),
include a pre-tax charge of $11.8 million, or $.03 per share-diluted, relating to business
rationalization and realignment initiatives. Net income for the fourth quarter of 2004 was
$170,286,000, or $.68 per share-diluted, compared with $152,131,000, or $.58 per
share-diluted, after excluding the item described above, for the fourth quarter of 2003,
an increase of 17.2 percent.
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