J.M. Smucker 4th-quarter net income rises 28 percent, easily beats estimates

Summary Box: J.M. Smucker 4Q profit up 28 percent

THE QUARTER: As its costs fell and shoppers bought more jams, jellies and Jif peanut butter, J.M. Smucker Co.’s fourth-quarter net income rose 28 percent, although sales of its Folgers coffee fell.

THE PRODUCTS: Coffee revenue fell 1 percent and volume slipped 4 percent. Gains in Dunkin Donuts brand coffee and Millstone coffee were overwhelmed by a drop in the Folgers brand. Sales volume for Jif, fruit spreads and Hungry Jack pancake mixes rose.

THE OUTLOOK: The company issued a 2011 outlook that topped analysts’ expectations, and its shares rose more than 5 percent.