Hershey 3Q net income rises; lifts outlook

[October 21, 2010]  HERSHEY, Pa. (AP) -- Strong sales of candy, mints and gum helped The Hershey Co.'s third-quarter net income rise 9 percent and spurred it to raise its earnings outlook.

Net income for the three months ended Oct. 3 totaled $182.9 million, or 79 cents per share, up from $168.5 million, or 73 cents per share.

Revenue rose 4 percent to $1.55 billion.

Analysts polled by Thomson Reuters predicted net income of 79 cents per share on revenue of $1.56 billion.

Hershey now expects net income of $2.52 to $2.56 per share, excluding one-time items, for the year. That is up from the prior range of between $2.47 and $2.52 per share. Analysts expect $2.53 per share.

[Associated Press]

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