Hershey Announces Third Quarter Results; Updates Outlook For 2012

Live Web Cast

As previously announced, the Company will hold a conference call with analysts today at 8:30 a.m. Eastern Time. The conference call will be web cast live via Hershey's corporate website www.thehersheycompany.com. Please go to the Investor Relations section of the website for further details.

The Hershey Company
Summary of Consolidated Statements of Income
for the periods ended September 30, 2012 and October 2, 2011
(in thousands except per share amounts)
				Third Quarter											Nine Months
				2012					2011						2012				2011
Net Sales				$	1,746,709				$	1,624,249				$	4,893,217			$	4,513,643
Costs and Expenses:
Cost of Sales					1,003,952					944,068					2,788,543				2,612,957
Selling, Marketing and Administrative					420,972					356,878					1,217,939				1,080,594
Business Realignment and Impairment Charges/(Credits), net					20,055					2,187					28,204				(5,927	)
Total Costs and Expenses					1,444,979					1,303,133					4,034,686				3,687,624
Income Before Interest and Income Taxes (EBIT)					301,730					321,116					858,531				826,019
Interest Expense, net					24,535					23,041					72,903				70,869
Income Before Income Taxes					277,195					298,075					785,628				755,150
Provision for Income Taxes					100,479					101,380					274,576				268,321
Net Income				$	176,716				$	196,695				$	511,052			$	486,829
Net Income Per Share	- Basic	- Common		$	0.80				$	0.89				$	2.33			$	2.20
	- Basic	- Class B		$	0.73				$	0.81				$	2.11			$	2.00
	- Diluted	- Common		$	0.77				$	0.86				$	2.23			$	2.12
Shares Outstanding	- Basic	- Common			164,686					165,917					164,766				166,223
	- Basic	- Class B			60,630					60,632					60,630				60,649
	- Diluted	- Common			228,608					229,849					228,701				230,114
Key Margins
Gross Margin					42.5	%				41.9	%				43.0	%			42.1	%
EBIT Margin					17.3	%				19.8	%				17.5	%			18.3	%
Net Margin					10.1	%				12.1	%				10.4	%			10.8	%

The Hershey Company
Consolidated Balance Sheets
as of September 30, 2012 and December 31, 2011
(in thousands of dollars)
Assets		2012				2011
Cash and Cash Equivalents		$	466,235			$	693,686
Accounts Receivable - Trade (Net)			649,328				399,499
Deferred Income Taxes			103,438				136,861
Inventories			726,492				648,953
Prepaid Expenses and Other			190,462				167,559
Total Current Assets			2,135,955				2,046,558
Net Plant and Property			1,618,178				1,559,717
Goodwill			594,854				516,745
Other Intangibles			220,223				111,913
Deferred Income Taxes			13,727				38,544
Other Assets			154,845				138,722
Total Assets		$	4,737,782			$	4,412,199
Liabilities and Stockholders' Equity
Loans Payable		$	460,081			$	139,673
Accounts Payable			435,283				420,017
Accrued Liabilities			644,959				612,186
Taxes Payable			12,631				1,899
Total Current Liabilities			1,552,954				1,173,775
Long-Term Debt			1,515,757				1,748,500
Other Long-Term Liabilities			636,339				617,276
Deferred Income Taxes			35,770				—
Total Liabilities			3,740,820				3,539,551
Total Stockholders' Equity			996,962				872,648
Total Liabilities and Stockholders' Equity		$	4,737,782			$	4,412,199

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