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Hershey Co Raises FY 2013 EPS Guidance; Updates FY 2013 Revenue Guidance


Thursday, 25 Jul 2013 07:00am EDT 

Hershey Co announced that for fiscal 2013, it expects reported earnings per share-diluted (EPS) in the range of $3.60 to $3.65. This projection, prepared in accordance with GAAP, assumes business realignment charges and NSRPE costs of $0.06 to $0.08 per share-diluted. Charges associated with the Project Next Century program are expected to be $0.03 to $0.05 per share-diluted, while NSRPE is expected to be $0.03 per share-diluted. Despite the impact of these charges in 2013, reported gross margin is expected to increase 300 to 310 basis points. The Company expects fiscal 2013 net sales to increase about 7%, including the impact of foreign currency exchange rates. The Company reported revenue of $6.644 billion in fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $3.65 and revenue of $7.06 billion for fiscal 2013. 

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