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Business Description
The J. M. Smucker Company (Smucker) is engaged in the manufacturing and marketing of branded food products on a worldwide basis, although the majority of the Company's sales are in the United States. The Company's operations outside the United States are in Canada, as well as other countries. The products of Smucker are sold in both its United States retail market segment and special markets segment. The products are peanut butter, shortening and oils, fruit spreads, fruit and vegetable juices, beverages, dessert toppings, syrups and frozen sandwiches. On June 16, 2004, the Company sold its Australian subsidiary, Henry Jones Foods, Pty. Ltd. On June 18, 2004, the Company completed the acquisition of International Multifoods Corporation. Smucker products also include flour and scratch baking ingredients, dessert and baking mixes, ready-to-spread frostings, potato mixes, dry breakfast mixes, syrups, pickles and condiments.

Financial Information
For the six months ended 10/31/04, sales rose 40% to $1 billion. Net income from continuing operations rose 15% to $68.2 million. Results reflect the contribution of sales from the Multifoods brands, partially offset by a higher selling and distribution cost and presence of merger costs.