J.M. Smucker 4Q net income rises 28 percent

ORRVILLE, Ohio (AP) - J.M. Smucker says its fourth-quarter net income rose about 28 percent. The jams and jellies maker says its Folgers acquisition is still bolstering business.

It also issued an outlook for 2011 that tops analysts' expectations.

In the three-month period ending April 30, Smucker earned $120.6 million, or $1.01 a share. In the same period last year the company earned $94.3 million, or 80 cents a share.

Revenue rose less than 1 percent to $1.07 billion.

Excluding one-time items related to restructuring and other factors such as the sale of its potato business, the company earned $1.07.

Analysts expected Smucker to earn 80 cents a share on revenue of $1 billion.