Hershey Foods (HSY)

Hershey, the nation's second-largest candymaker, said Thursday that its third-quarter profit rose 30 percent, helped by price increases and lower restructuring costs. The Hershey, Pa.-based candymaker said it earned $162 million, or 71 cents a share, in the three months ended Oct. 3, up from $124.5 million in last year's quarter. Revenue slid less than 1 percent to $1.48 billion, as the company cited artificially inflated sales in last year's third quarter because of heavy purchasing by retailers to beat an average 11 percent wholesale price increase on Hershey's candy.
The results beat Wall Street expectations, although The Hershey Co. said third-quarter revenue dipped slightly after retailers stocked up in last year's third quarter ahead of a price increase.

Oct 22 · 9:49:00 AM · Source: AP
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by Larry Etter