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Hershey posts higher net income for Q4

The Hershey Company reported net income of $181.1 million, or 85 cents per diluted share, for the fourth quarter of 2017, up from $116.9 million, or 55 cents per diluted share, in the comparable year-earlier period.

Net sales for the quarter ended Dec. 31, 2017, were posted at $1.94 billion, decreasing slightly from $1.97 billion in the fourth quarter of 2016, affected partially by the timing of shipments in the third quarter and the launch of the Hershey's Cookie Layer Crunch Bar a year ago.

Net sales in the North America segment decreased 0.9% to $1.67 billion for the quarter from $1.69 billion last year, while international and other segment net sales dropped 5.4% to $265 million from $280 million.

Operating profit was $328.3 million, up from $229.5 million.

The company raised its 2018 EPS outlook by 12% to 14% to the range of $5.33 to $5.43 per diluted share, citing the impact of a lower tax rate and brand-building reinvestment.

In full-year terms, the company's net income increased to $783 million, or $3.66 per diluted share, in 2017 from $720 million, or $3.34 per diluted share, in 2016.

Hershey also announced quarterly per-share dividends of 65.6 cents on the common stock and 59.6 cents on the class B common stock, payable March 15 to stockholders of record as of Feb. 23.